Damianou Meets With Leading G42 Companies In Abu Dhabi To Discuss AI Collaborations

In a strategic move aimed at bolstering Cyprus’s position in the rapidly evolving field of artificial intelligence (AI), Mr. Michael Damianou, a prominent figure in Cypriot business and technology sectors, recently met with leading companies under the G42 umbrella in Abu Dhabi. The discussions focused on exploring potential collaborations in AI, signalling a forward-thinking approach to integrating advanced technologies into the Cypriot economy.

G42, headquartered in the United Arab Emirates, is a renowned AI and cloud computing company known for its innovative solutions across various industries, including healthcare, finance, and smart cities. The company’s expertise in harnessing AI to drive efficiency and innovation has made it a global leader in the tech industry. The meeting between Damianou and G42 executives underscores the potential for significant technological advancements and economic benefits for Cyprus.

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The discussions covered a broad range of AI applications, reflecting the diverse capabilities of G42. Key areas of interest included AI-driven healthcare solutions, smart city initiatives, and advancements in financial technologies. These sectors are poised to benefit immensely from AI integration, offering improved services, enhanced efficiency, and new economic opportunities.

Healthcare emerged as a pivotal area for collaboration. G42’s AI solutions have the potential to revolutionise healthcare delivery in Cyprus by enabling predictive analytics, personalised medicine, and efficient resource management. Such advancements could lead to better patient outcomes, reduced healthcare costs, and a more robust healthcare infrastructure.

Smart city technologies were another focal point of the discussions. G42’s expertise in developing AI-powered solutions for urban management can assist Cyprus in creating smarter, more sustainable cities. These solutions encompass traffic management, energy optimisation, and public safety, aiming to enhance the quality of life for citizens and promote sustainable urban development.

The financial sector also stands to gain from AI collaborations. By leveraging G42’s AI capabilities, Cypriot financial institutions can enhance their services through advanced data analytics, fraud detection, and personalised financial planning. This can lead to greater financial inclusion, security, and customer satisfaction.

Mr. Damianou expressed optimism about the potential collaborations, stating, “Engaging with G42 offers a tremendous opportunity for Cyprus to advance its AI capabilities and drive innovation across multiple sectors. The expertise and technological prowess of G42 align with our vision to transform Cyprus into a hub of technological excellence.”

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Cyprus Hits Historic Tourism Peak As Overtourism Risks Mount

by THEFUTURE.TEAM

February 13, 2026

Record-Breaking Performance In Tourism

Cyprus’ tourism sector achieved unprecedented success in 2025 with record-breaking arrivals and revenues. According to Eurobank analyst Konstantinos Vrachimis, the island’s performance was underpinned by solid real income growth and enhanced market diversification.

Robust Growth In Arrivals And Revenues

Total tourist arrivals reached 4.5 million in 2025, rising 12.2% from 4 million in 2024, with momentum sustained through the final quarter. Tourism receipts for the January–November period climbed to €3.6 billion, marking a 15.3% year-on-year increase that exceeded inflation. The improvement was not driven by volume alone. Average expenditure per visitor increased by 4.6%, while daily spending rose by 9.2%, indicating stronger purchasing power and higher-value tourism activity.

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Economic Impact And Diversification Of Source Markets

The stronger performance translated into tangible gains for the broader services economy, lifting real tourism-related income and overall sector turnover. Demand patterns are also shifting. While the United Kingdom remains Cyprus’ largest source market, its relative share has moderated as arrivals from Israel, Germany, Italy, the Czech Republic, the Netherlands, Austria, and Poland have expanded. This gradual diversification reduces dependency on a single market and strengthens resilience against external shocks.

Enhanced Air Connectivity And Seasonal Dynamics

Air connectivity has improved markedly in 2025, with flight volumes expanding substantially compared to 2019. This expansion is driven by increased airline capacity, enhanced route coverage, and more frequent flights, supporting demand during shoulder seasons and reducing overreliance on peak-month flows. Seasonal patterns remain prominent, with arrivals building through the spring and peaking in summer, thereby bolstering employment, fiscal receipts, and corporate earnings across hospitality, transport, and retail sectors.

Structural Risks And Future Considerations

Despite strong headline figures, structural challenges remain. The European Commission’s EU Tourism Dashboard highlights tourism intensity, seasonality, and market concentration as key risk indicators. Cyprus records a high ratio of overnight stays relative to its resident population, signalling potential overtourism pressures. Continued reliance on a limited group of origin markets also exposes the sector to geopolitical uncertainty and sudden demand swings. Seasonal peaks place additional strain on infrastructure, housing availability, labour supply, and natural resources, particularly water.

Strategic Investment And Market Resilience

Vrachimis concludes that sustained growth will depend on targeted investment, product upgrading, and continued market diversification. Strengthening year-round offerings, improving infrastructure capacity, and promoting higher-value experiences can help balance demand while preserving long-term competitiveness. These measures are essential not only to manage overtourism risks but also to ensure tourism remains a stable pillar of Cyprus’ economic development.

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