Paphos Tourism Board Reports Strong Momentum In Drive To Win Domestic Holidaymakers

The Paphos regional tourism board says its summer campaign to attract domestic visitors is gaining momentum, with early results showing strong engagement across Cyprus.

Digital Campaign Delivers Broad Reach

Etap Paphos said the campaign encourages Cyprus residents to choose the district for their summer holidays, alongside a separate promotion focused on Polis Chrysochous and the Akamas region.

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The campaign uses targeted advertising on Facebook and Instagram, supported by promotional videos, photography, online competitions and prize draws.

According to the board, the campaign has generated more than 4.3 million impressions, reaching more than 530,000 people and recording over 200,000 engagements. Direct interaction with promotional content exceeded 40,500 engagements, while competitions and prize draws attracted more than 50,000 interactions.

Supporting Domestic Tourism

Etap Paphos president Michalis Mitas said the campaign places greater emphasis on domestic tourism to help offset weaker demand from some foreign markets caused by geopolitical and economic conditions while supporting local small and medium-sized businesses.

He added that Paphos offers an affordable holiday alternative as air travel costs continue to rise. “We invite our fellow citizens to visit Paphos and rediscover the hidden beauties of our island,” Mitas said.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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