High Occupancy Rates for Cyprus Restaurants in October; Winter Decline Anticipated

by THEFUTURE.TEAM

November 1, 2024

Restaurants, cafes, and bars in Cyprus experienced a strong October, with occupancy levels reaching 80 to 90 per cent, according to Neophytos Thrasyvoulou, president of the Federation of Leisure Centre Owners (Osika). He described October as a “very successful month” for the food service industry.

However, with winter approaching, Thrasyvoulou acknowledged potential challenges, especially with the impact of regional instability. “Visitor numbers have seen a slight drop in recent days,” he noted, though he hopes that occupancy levels will remain steady until mid-November. By early November, Thrasyvoulou expects visitor occupancy to hover around 50 to 60 per cent, after which the responsibility will lie with businesses to keep operating, with support from the Labour Ministry’s programme to extend the tourism season.

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Reflecting on the earlier summer months of June and July, Thrasyvoulou highlighted that visitor numbers were initially lower than expected, largely due to Middle East tensions. The trend eventually improved, leading to a stronger second half of the season.

Despite rising costs, Thrasyvoulou urged business owners to maintain affordable pricing, aiming to keep dining accessible for both locals and tourists amid economic pressures.

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X Shifts U.S. Creator Payouts To X Money With No Minimum Threshold

by THEFUTURE.TEAM

September 3, 2026

X said Wednesday that all creator payouts in the U.S. will now be processed through X Money, its payments service, with the change taking effect immediately.

The new system covers earnings from X’s Original Content Rewards Program and creator subscriptions, according to X Creators. U.S. creators will receive access to their funds as soon as payouts are sent, the company said.

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Instant Access Replaces Biweekly Payouts

Previously, X paid creators every two weeks and required them to earn at least $30 before receiving a payout, according to the company’s documentation.

Under X Money, creators no longer need to wait for the end of a billing cycle or meet a minimum threshold. The faster access could be particularly useful for independent publishers and smaller creators who rely on regular payments for operating expenses.

U.S. Creators Must Switch From Stripe

The change is mandatory for creators in the U.S. Those previously receiving payments through Stripe will have to move to X Money, an X representative confirmed. Creators outside the U.S. will continue receiving payouts through Stripe.

X Reshapes Creator Monetization

The payments change comes as X prepares to retire its Creator Revenue Sharing Program on Sept. 7. The program stopped accepting new members last month, and creators are being moved to the Original Content Rewards Program, which emphasizes original content.

The shift is part of X’s broader effort to restructure creator monetization around content produced for the platform.

X Money Expands Musk’s Payments Strategy

X Money, which began supporting creator payouts earlier this month, is part of Elon Musk’s effort to turn X into an “everything app.”

The service offers a bank card with 3% cash back, instant payments, free ATM withdrawals and other digital banking features. X Money is not a bank, however. Customer accounts are held at Cross River Bank, an FDIC-insured institution.

Payouts Also Affect Interest And Tax Reporting

Creator payouts will count toward the direct deposit requirements for X Money’s higher APY rate. According to X Money’s interest FAQ, X Premium users can receive a 6% rate, compared with 4% for the standard rate.

X said it will issue a 1099-NEC to individuals receiving creator payouts. For LLCs, the company will collect W-9 information for tax reporting purposes.

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