Municorn Rockets To The Top Of Deloitte’s Fast 50 Tech Rankings In Cyprus

by News Editor

April 24, 2025

Emerging from Cyprus, Municorn has secured the pinnacle position in Deloitte’s Technology Fast 50 Middle East and Cyprus rankings. With a jaw-dropping revenue growth of 20,164% over four years, Municorn’s success showcases Cyprus’s growing influence in the tech and innovation realm.

The fourth edition of the Fast 50 programme recorded an astonishing record of over 200 applications from the region, demonstrating a maturing start-up ecosystem.

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The roster recognizes firms for four-year revenue growth, spotlighting tech leaders catalyzing industry transformation. This year’s list displayed an average growth of 8,823%, with 29 companies achieving growth rates exceeding 1,000%.

Sector Dominance: Fintech and Software

Reflecting sector trends, fintech and software led the way with 22% and 31% representation, respectively. Cyprus joined Saudi Arabia and the UAE in driving regional tech growth, accounting for 16% of ranked companies.

In particular, Deloitte’s Fast 50 programme Leader, Kyriacos Charalambides, lauded the companies for using transformative tech to resolve global issues. “These entrepreneurs are pioneering industry-shifting innovations,” he remarked.

Diversity in Leadership

This year, women-led ventures increased to 18% from last year’s 15%, as Deloitte spotlighted thriving female-fronted companies. Newly introduced categories like Kiyadat celebrate local talent, highlighting trends in the tech sector.

The ESG-focused Impact category evaluated nominees on real-world impact and excellence, reflecting a commitment to sustainable practices.

With Fast 50 Connect events planned, winners can expect to network with investors, fostering further growth opportunities in May.

Stelios Kyriakides, Partner at Deloitte Cyprus, emphasized the region’s evolving fintech landscape, where tech is reshaping financial services, setting new standards.

Strategic Importance of Cyprus

This recognition not only spotlights rapid growth but also reinforces Cyprus’s strategic role in pushing the Middle East towards a tech-fueled future.

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Cyprus Expects More French Visitors In 2027 As Air Capacity Expands

by THEFUTURE.TEAM

September 18, 2026

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

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Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.

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