Greenland’s Tourism Boom: Trump Effect And New Airports Drive Growth

by THEFUTURE.TEAM

March 21, 2025

Greenland is witnessing a surge in tourism, fueled by renewed international attention following remarks by former U.S. President Donald Trump and a wave of new infrastructure projects. The opening of Nuuk’s new international airport has significantly improved access, with direct flights from New York set to begin in June.

Key Facts

14% rise in international arrivals: Statistics Greenland reported a sharp increase in January year-on-year.
Hotel stays surged: 355,000 nights recorded last year, up from 210,000 in 2014.
Nuuk Airport opened in November, streamlining travel and bypassing layovers in Copenhagen and Kangerlussuaq.
Ilulissat and Qaqortoq to get international airports, further boosting accessibility.
Three-quarters of tour operators saw increased bookings after Nuuk Airport’s opening.

The Bigger Picture

Greenland’s tourism momentum comes amid U.S. interest in the Arctic island’s rare earth minerals, critical for high-tech industries. While Trump’s idea of acquiring Greenland sparked controversy, it undeniably placed the region in the global spotlight. The country now aims to diversify its economy—currently 95% dependent on fishing—by leveraging tourism and mining.

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With breathtaking glaciers, deep fjords, and a rich Inuit cultural heritage, Greenland’s tourism industry is poised for unprecedented growth.

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Cyprus Current Account Gap Widens As External Debt Climbs In First Quarter Of 2026

by THEFUTURE.TEAM

June 30, 2026

Cyprus entered 2026 with a weaker external position, as the country’s current account deficit widened in the first quarter and its international investment position deteriorated, according to preliminary data released on Tuesday by the Central Bank of Cyprus (CBC).

Deficit Worsens Amid Softer Services Performance

The current account deficit widened to €1.27 billion in the first quarter of 2026 from €1.01 billion a year earlier, an increase of €263 million. Excluding special purpose entities (SPEs), the deficit reached €1.37 billion, compared with €1.12 billion in the first quarter of 2025.

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According to the CBC, the deterioration was driven mainly by a larger secondary income deficit and weaker net exports of services. Financial services, telecommunications, computer services and information services all weighed on the balance, although the impact was partly offset by an improved goods balance and a narrower primary income deficit.

Financial Flows Remain Positive

Despite the weaker current account position, Cyprus recorded net financial inflows of €1.14 billion during the quarter, exceeding the level reported a year earlier. The increase reflected a smaller net outflow in portfolio investment together with stronger net inflows under other investment, the CBC said.

External Balance Sheet Weakens

Cyprus’ international investment position also deteriorated during the quarter. The country’s net liability position widened to €28.31 billion at the end of the first quarter from €28.17 billion three months earlier.

After excluding SPEs, net liabilities increased to €10.03 billion from €8.93 billion at the end of 2025. Gross external debt rose to €226.66 billion from €225.19 billion, while external debt assets edged down slightly to €223.53 billion from €223.62 billion. As a result, net external debt increased by €1.57 billion to €3.14 billion.

Excluding SPEs, gross external debt stood at €59.94 billion, up from €59.18 billion at the end of 2025. Over the same period, net external debt improved slightly to minus €30.46 billion from minus €30.95 billion.

Trade Links Show Mixed Picture

The CBC reported current account surpluses with Germany and Russia during the first quarter, while deficits were recorded with Greece, the United Kingdom and the United States.

At the regional level, Cyprus narrowed its current account deficits with both the European Union and the euro area, providing a modest offset to the broader weakening in the country’s external balance.

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