Opens in a new tab

Breaking news

Cyprus Tourism Revenue Surges to €2.47 Billion Amid Strategic Diversification

Robust Revenue Growth Driven By Strong Visitor Spending

Tourism revenue in Cyprus has reached an impressive milestone, registering €2.47 billion in the January–August period of 2025. The latest figures, released by the Cyprus Statistical Service (Cystat), highlight a 16.5% increase compared to the previous year’s €2.12 billion. In August 2025 alone, revenue climbed to €581.8 million, marking a 13.8% improvement relative to August 2024’s €511.4 million. This robust performance is underpinned by rising visitor spending and a consistent influx of tourists across key markets.

Key Markets & Rising Per Capita Expenditure

Cyprus’ tourism success is largely attributable to its appeal among major markets such as the United Kingdom, Israel, and Poland. UK visitors, representing 32.1% of total tourists, spent an average of €1,195.02 per person, including €112.74 per day. Meanwhile, Israel, accounting for 17.5% of arrivals, and Poland, with 7.0%, demonstrated robust spending of €792.69 and €740.38 per person, respectively. These trends are further corroborated by spending metrics from visitors from France, Germany, the United States, and Greece, all of which underscore the vitality of the sector.

Precision Data Collection And Methodology

The detailed insights provided by Cystat are the result of a comprehensive Passengers Survey conducted at Larnaca and Paphos airports via Computer Assisted Personal Interviewing (CAPI). The survey delineates tourist activity strictly within government-controlled regions, thereby ensuring the accuracy of visitor metrics. Tourists are defined as visitors staying at least one night, and arrivals are quantified by trip rather than by individual, a key nuance in understanding market trends.

Sustainable Growth And Strategic Investment

Reflecting a strategic shift, Cyprus’ Deputy Ministry of Tourism recently announced a €74.6 million budget for 2026 with a strong emphasis on sustainability, quality, and community benefits. The allocation is robust: 37.1% is dedicated to promotion, while 20% supports product upgrade grant schemes, and 25% covers operational expenses, including funds for the EU Council Presidency. An additional €13.2 million is earmarked for targeted schemes under the EU Recovery and Resilience Plan, leveraging funds to enhance rural, mountainous, and agritourism accommodations as well as cultural experiences.

Pioneering The Transition To Year-Round Tourism

In parallel with rising revenues, Cyprus is actively transitioning towards a year-round tourism model. Industry leaders, including the Cyprus Hoteliers Association, are expanding operating seasons, notably in hubs like Ayia Napa and Protaras. With touristic arrivals up 10.3% between January and September 2025 and the sector contributing 14% to GDP, this strategic pivot aims to bolster activities during the traditionally off-peak months. This initiative not only promises to stabilize employment across the tourism ecosystem but also ensures Cyprus capitalizes on its mild climate and robust demand.

As the island continues its journey to become an all-season destination, diversified offerings in sports, wellness, and gastronomy are set to redefine its tourism landscape. This forward-thinking approach positions Cyprus at the forefront of sustainable tourism development, ready to meet the challenges and seize the opportunities of tomorrow’s global travel market.

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

Uol
The Future Forbes Realty Global Properties
Aretilaw firm
eCredo

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter