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Tourism Boom: Cyprus Reaps €3.2 Billion In 2024

As Cyprus welcomes 2025, the island is reflecting on a successful year in tourism. According to the state statistical service, December 2024 marked a remarkable 17% increase in year-on-year tourism revenue, bringing in €86.9 million. This rise is a part of a larger trend, as total earnings for the year leaped to €3.2 billion, a 7.3% boost from 2023.

The data, rigorously compiled from traveller surveys, shows a promising uptick in tourism activities. Visitors, on average, spent €653.27 each in December 2024, an 8.7% rise compared to the previous year. This trend is further emphasized by the strong spending patterns of tourists from the UK, Israel, and Poland.

Notably, British tourists dominated December arrivals, contributing 23.7% of all tourists and spending an average of €64.12 per day. Their counterparts from Israel, making up 17.4% of visitors, spent significantly more, averaging €162.55 daily. Polish travelers, accounting for 9.4% of arrivals, spent an average of €72.17 per day.

These figures highlight a robust tourism sector that plays a pivotal role in the island’s economic landscape. This growth in tourism aligns with broader economic trends in Cyprus, suggesting a promising outlook for the coming year.

Genikes Insurance Wins Two Global Banking And Finance Awards

Genikes Insurance received two distinctions at the Global Banking and Finance Awards 2026, winning Best General Insurance Company in Cyprus and Best Insurance Website Cyprus. The awards reflect the company’s position within the Cypriot insurance market as well as its broader digital transformation strategy focused on expanding online services and improving customer experience.

Market Leadership And Digital Transformation

Genikes Insurance has invested in developing a more modern digital platform designed to simplify key insurance services, including policy issuance and online claims management. The company said the upgraded platform aims to improve efficiency and accessibility while strengthening its position within an increasingly competitive insurance sector.

Customer-Centric Approach

Commenting on the recognition, General Manager Christiana Agrotis said the company continues focusing on reliability, innovation and customer-focused services tailored to the needs of the Cypriot market. According to Agrotis, the recognition of the company’s digital platform also reflects the trust customers place in its services and broader insurance offering.

Technology-Driven Innovation

The updated website was designed to provide simpler navigation and improved access to insurance information and digital services. Company officials said the platform forms part of broader efforts to integrate technology more closely into customer service and operational processes. Genikes Insurance added that it remains focused on strengthening long-term customer relationships while continuing investments in digital capabilities and service development.

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