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Paphos Emerges As Global Tourism Powerhouse With Sustainable Innovations

by THEFUTURE.TEAM
June 5, 2025

Deputy Minister of Tourism, Kostas Koumis, recently outlined Paphos’ transformative journey toward becoming a key player on the global tourism stage in 2024. Speaking at the Paphos Regional Tourism Board meeting, Koumis emphasized the strong partnership between the Deputy Ministry and Etap, which has propelled targeted promotional efforts and quality enhancements across the region.

Strategic Digital Outreach and Market Penetration

A major digital campaign launched in 2024 successfully targeted 14 markets, including the United Kingdom, Germany, Poland, and France, reaching over 8 million unique users. This campaign not only expanded the destination’s visibility but also played a crucial role in attracting a diverse international clientele, reinforcing Paphos’ commitment to strategic market positioning.

Advancing Visitor Experience Through Sustainable Development

Central to the region’s success has been a series of initiatives aimed at enhancing Paphos’ overall tourism offering. The development of nature trails, cycling routes, and cultural heritage projects in the hinterland are designed to enrich the visitor experience while championing sustainable tourism practices. Complementing these efforts, environmental measures—such as coastal protection from plastics, regular clean-ups, and extensive tree planting—signal a broader commitment to environmental stewardship.

Infrastructure Upgrades And Expanding Global Connectivity

Key infrastructural upgrades further bolster the region’s appeal. Among these, the planned Paphos Marina in Kissonerga stands as an emblematic project, with completion targeted for February 2027. Enhancements at Paphos Airport, now served by 16 airlines operating routes to 58 airports across 21 countries, underline the growing connectivity and international relevance of the destination.

Record Performance Amid Challenges And Future Prospects

Reflecting on 2024, Koumis noted that Cyprus achieved a record year for tourism, with over 4 million arrivals and revenues surpassing €3 billion. Paphos itself contributed approximately 35 percent of these numbers, underlining its significance within the national tourism ecosystem. Early figures for 2025 indicate a strong recovery, with a significant year-on-year increase in arrivals, driven by robust market strategies and competitive offerings from carriers like Ryanair, EasyJet, Jet2, and Wizz Air.

Resilience and Strategic Investment As Key Drivers

Despite facing challenges such as geopolitical instability, rising inflation, labor shortages, and water scarcity, the tourism sector in Paphos remains resilient. The region welcomed approximately 1.455 million visitors in 2024, generating €1.15 billion in foreign exchange. These achievements are the result of diligent planning, comprehensive digital campaigns, collaborative initiatives, and strategic investments that prioritize authentic hospitality and sustainable growth.

The event, rich with audiovisual presentations and high-level discussions among local MPs, mayors, community leaders, and industry experts, reflected a unified commitment to enhancing Paphos’ global standing. As Paphos continues to evolve through strategic enhancements and sustainable practices, its role as a linchpin in Cyprus’ tourism landscape is more pronounced than ever.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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