Record high tourist arrivals in August

by THEFUTURE.TEAM

September 18, 2024

Tourist arrivals set a new record in August, reaching 554,923, exceeding the corresponding arrivals of August 2019, the record year for Cypriot tourism, by 0.20%.

According to Cystat, from January to August 2024, tourist arrivals totaled 2,758,627 compared to 2,648,795 in the corresponding period of 2023, recording an increase of 4.1%.

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Compared to the arrivals of tourists in August 2023, arrivals in August 2024 went up by 8.5%.

Arrivals from the United Kingdom were the main source of tourism for August 2024, with a share of 34.7% (192,424) of total arrivals, followed by Israel with 13.3% (74,032), Poland with 7.7% (42,650), Germany with 4.2% (23,068) and Sweden with 4.1% (22,508).

Returns of residents of Cyprus down 3.6%

Moreover, a total number of 192,756 residents of Cyprus returned from a trip abroad in August 2024 compared to 199,920 in the corresponding month last year, recording a decrease of 3.6%.

The main countries from which residents of Cyprus returned in August 2024 were Greece with a share of 39.1% (75,381), the United Kingdom with 6.6% (12,718), Russia with 4.4% (8,538) and Italy with 4.1% (7,926).

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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.

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