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Larnaca’s Tourism Sector Poised For Growth In 2026, Says Chamber President

Dr. Nakis Antoniou, President of the Larnaca Chamber of Commerce and Industry, has outlined a bright outlook for Larnaca’s tourism sector in 2026, emphasizing that positive factors are aligning for robust growth in the city.

Cultural Capital as a Catalyst

The recent honor of being named the European Cultural Capital for 2030 is expected to significantly boost tourist arrivals. This prestigious accolade not only enhances Larnaca’s profile but also fosters an environment where cultural tourism can thrive.

Investment in Boutique Hotel Developments

Antoniou noted that there have been approximately 20 proposals for the establishment of small luxury hotels or boutique accommodations within the city. These projects often repurpose existing structures to create unique lodging experiences that encourage visitors to explore local dining, cafes, and the city’s picturesque neighborhoods. This strategic shift promises to stimulate the local economy by directing tourism benefits to a wider range of local businesses.

Marina Developments and Infrastructure Enhancements

In tandem with the hotel investments, enthusiasm is growing around plans for the city’s marina. Discussions are currently underway with Greece’s Ministry of Transport, Communications, and Works, with a pilot study on the marina’s development being led by the Greek Public Investment Fund. Additionally, the prospect of a legal endorsement for a proposal by Panos Alexandrou, CEO of Prosperity Group CY Ltd, signals further commitment to transforming Larnaca’s port and marina into a vibrant center of economic activity.

Enhanced Connectivity for a Growing City

Another major boost to Larnaca’s tourism prospects is the imminent completion of the third phase of the Larnaca – Dekeleia coastal road project. This new infrastructure is expected to not only improve local and international access but also to facilitate greater movement of tourists throughout the city, reinforcing Larnaca’s reputation as a prime travel destination.

Outlook: A Promising Future

With escalating investments, enhanced infrastructure, and a renewed focus on cultural assets, local investors and business leaders are confident in Larnaca’s upward trajectory. Dr. Antoniou concluded that the combination of these developments, along with the removal of longstanding environmental challenges along the seafront, positions Larnaca for sustained tourism growth and economic prosperity.

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.

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