Elevating Tourism: Paphos Regional Tourism Board’s Strategic Vision For 2026

by THEFUTURE.TEAM

January 26, 2026

The Paphos Regional Tourism Board (Etap) has unveiled an ambitious framework for 2026 that aims to upgrade tourism services while fostering sustainable development across the district.

Prioritizing Air Connectivity And Market Diversification

Executive Manager Nasos Hadjigeorgiou outlined a strategy built on clearly defined priorities, focusing prominently on air connectivity. Etap’s plan calls for diversifying and stabilizing flight schedules year-round while expanding thematic tourism markets. Initiatives targeting sports, weddings, wellness, agro-tourism, and the 55+ segment are seen as essential measures to reduce seasonality and diversify visitor demand.

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Enhancing Visitor Experiences And Digital Transformation

Efforts to enrich visitor experiences include the enhancement of eco-trails, the promotion of walking tourism, and the introduction of interactive activities. Beyond enriching local offerings, Etap is committed to boosting current events and attracting new sports and cultural initiatives that solidify Paphos’ reputation as a year-round destination. A significant component of this strategy is the digital upgrade of both the destination and its visitor experiences, along with improved accessibility for people with disabilities.

Strengthening Rural And Urban Tourism Integration

Looking ahead to the 2026–2028 period, Etap is actively evaluating the tourism landscape to plan targeted actions. Particular emphasis is placed on reinforcing rural tourism, with the Polis Chrysochous region identified as a key area for development. This initiative is part of a broader effort to promote Paphos as a quality and smart destination on both national and international levels.

Bolstering International Connectivity And Addressing Sector Challenges

Paphos currently benefits from a robust network of year-round connections, with carriers such as Ryanair, Jet2, and EasyJet maintaining solid operations. The return of full-service airlines like Lufthansa, offering flights to Munich, has added further strength to the airport’s profile, complementing strong links with key markets including Poland, Israel, the United Kingdom, and Central Europe. Ongoing efforts aim to secure additional routes from Germany, Switzerland, Amsterdam, Lebanon, and Egypt, with the eventual establishment of Cyprus Airways at Paphos International Airport remaining a key objective.

Tackling Systemic Challenges To Ensure Sustainable Growth

Despite these comprehensive plans, intense seasonality remains a critical challenge, compounded by longstanding issues such as inadequate public transport between urban and rural areas, human resource constraints, water scarcity, inconsistent service quality, and the gradual aging of local infrastructure. Additional concerns include an unclear brand image in key source markets, regulatory delays in state projects, and the unchecked proliferation of short-term rental accommodations.

Investing In Year-Round Tourism Innovation

In a proactive bid to address these challenges, Etap is investing in innovative winter tourism products that span nature-based, sports, and cultural activities. This diversification, bolstered by efforts to enhance digital skills and promote the destination across strategic markets, seeks to reinforce Paphos’ standing as a leading year-round destination while laying the groundwork for sustainable regional development.

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Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

June 26, 2026

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

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Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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