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Paphos, Hoteliers Pledge Closer Cooperation As Cyprus Tourism Slows

by THEFUTURE.TEAM

July 30, 2026

Cyprus Tourism Slows As Occupancy And Arrivals Fall Below Last Year’s Levels

Cyprus’ tourism sector is facing a weaker summer season than last year, with hotel occupancy, visitor arrivals and overnight stays all trending below 2025 levels despite improving bookings in recent weeks.

The softer outlook comes as Paphos Municipality and the Cyprus Hoteliers Association (Pasyxe) reaffirmed their commitment to closer cooperation on tourism development and service quality during a meeting at Paphos Town Hall.

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Acting Mayor Angelos Onisiforou and newly elected Pasyxe President Yiannos Pantazis said they would continue working together to strengthen Paphos’ tourism offering and address challenges facing the sector.

Occupancy Remains Below Last Year

Pasyxe Director General Christos Angelides said hotel occupancy is averaging about 85% during July and August, around 10% to 15% below last year’s levels. Although bookings have improved in recent weeks, uncertainty continues to affect demand for the autumn season, he said.

Angelides attributed the weaker performance to higher energy costs, expensive air travel and regional instability, adding that the industry is focusing on extending the tourism season beyond the summer months.

“Our biggest hope is to build on last year’s performance during the November 2026 to April 2027 period. That is where we believe the difference can be made,” he said.

Travel Industry Reports Softer Demand

Association of Cyprus Travel and Tourist Agents (ACTTA) President Haris Papacharalambous also said tourism activity remains below last year’s levels, although the decline has been moderate.

He said the Famagusta district has been more heavily affected than other regions and pointed to regional instability as one of the main factors influencing demand. Israel was the only major source market to record significant growth, with arrivals rising sharply from June 2025 after travel had been disrupted by the Israel-Iran conflict.

Papacharalambous said overnight stays are expected to finish 2026 around 12% to 14% below last year’s record level.

Arrivals Continue To Decline

Official figures from the Cyprus Statistical Service (Cystat) show tourist arrivals fell 1.7% year on year in June to 489,965.

During the first six months of 2026, arrivals declined by 10.1% to 1.66 million, down from 1.84 million in the same period of 2025.

The United Kingdom remained Cyprus’ largest source market in June, accounting for 33% of arrivals, followed by Israel with 16.4% and Poland with 7.3%. Holiday travel represented 81.6% of total arrivals.

Paphos Gains International Recognition

Despite the weaker market conditions, Paphos recently received international recognition after being named the world’s top destination for sunrise and sunset views in a ranking by photo-printing company Cewe.

The ranking, produced in partnership with travel photographer Bella Falk and featured by Travel + Leisure, highlighted locations including Petra tou Romiou, Paphos Castle and the Edro III shipwreck.

Nasos Hadjigeorgiou, executive director of the Paphos Regional Tourism Board, said the recognition would strengthen the city’s profile in international markets while supporting efforts to promote tourism beyond the traditional summer season.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.