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Tourism performance is positive but there must be no complacency

The tourist sector’s positive performance in the last two years is not a reason for complacency, Kostas Koumis Deputy Minister for Tourism said, addressing an event hosted by the Deputy Ministry to mark the World Tourist Day, that was held in Eleftheria Square, Nicosia, on Friday.

“We need to redefine the role of tourism for the economy, entrepreneurship, the environment and the society,” he said.

According to Koumis, the most significant challenge which acts as an existing threat to society as a whole, the economy and tourism is climate change.

“And for this reason, the Deputy Ministry has incorporated a special chapter on green transition in the updated National Strategy for Tourism,” he added.

Referring to the performance of the sector this year, Koumis said that data show that in the period from January to August, arrivals increased by 4.1%, compared to the respective period last year, while they marginally increased compared with the same period of 2019, which was Cyprus’ historic record year in terms of tourist arrivals. Furthermore, he added that revenue from tourism in the first six months of the year were up by 4.2% year on year, despite the fact that 2024 is marked by many adversities.

However, Koumis pointed out that the course of tourism is not secure, as a series of challenges, with the greatest stemming from climate change, call for the need to take immediate measures.

“Each destination’s competitiveness is directly attached to the implementation of sustained and environmentally responsible policies, and this is a one-way street if we want our country’s tourist sector to be competitive,” the Deputy Ministry said.

Eurobank Plans €1 Billion Investment In AI And Digital Banking By 2028

Eurobank plans to invest about €1 billion in technology from 2025 through 2028, its largest technology investment program to date. The Banking Forward strategy focuses on digital banking, artificial intelligence, customer experience and a “phygital” model combining digital services with face-to-face support.

Digital Banking Dominates Customer Activity

Digital channels already account for 96% of Eurobank transactions, with 61% completed through the Eurobank Mobile App. Among customers aged 35 and under, digital adoption reaches 94%.

Customers make about 574 million annual logins across e/m-banking and more than 1 million digital transactions each day. During the first half of 2026, one in three banking products was acquired digitally.

AI Moves Into Everyday Banking

Eurobank is expanding the use of AI through tools including EVA, its digital customer assistant, and myEVA, an AI-powered voice assistant for employees. The technology is also being applied to mortgage assessments, customer feedback analysis and contractual documents.

The bank’s technology architecture is built around five areas: digital channels, customer experience orchestration, data and AI, core banking, and infrastructure and cloud. About 50% of its applications and digital channels are already cloud-based.

Investment Extends Beyond Technology

The program is intended to reshape how Eurobank operates, combining automation and AI with employee development and human support. The bank says the approach is designed to improve services while maintaining access to face-to-face banking when customers need it.

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