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Tourism Remains Pillar Of Cyprus’ Economy, Christodoulides Affirms

by THEFUTURE.TEAM

October 16, 2025

Strategic Collaboration And Resilience

At the 91st HOTREC General Assembly in Paphos, President Nikos Christodoulides underscored the critical role of tourism in Cyprus’ economic architecture. Addressing leaders and innovators from Europe’s hospitality and tourism sectors, he highlighted the vital interplay between industry excellence and sustainable national development as Cyprus prepares to assume the EU presidency in 2026.

Economic Significance And Recovery

Christodoulides emphasized that tourism accounts for over 13% of Cyprus’ GDP, directly and indirectly supporting nearly 120,000 jobs. Beyond the impressive statistics, he noted tourism’s broader societal benefits: strengthening social cohesion, nurturing local communities, and safeguarding cultural and natural heritage. The president pointed to the sector’s pivotal role in driving economic recovery in 2022, even amid the challenges posed by global disruptions.

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Future-Focused Policy And Innovation

In highlighting initiatives to diversify source markets and extend the tourist season, the president reaffirmed the government’s commitment to a forward-looking tourism policy. He stressed the importance of enhancing the diversity, quality, and sustainability of tourism offerings, while actively investing in education, innovation, and digital transformation. These measures aim to create an economically robust, environmentally sustainable, and socially inclusive ecosystem, reinforcing Cyprus’ reputation for excellence in hospitality.

Cyprus EU Presidency And Forward Momentum

Looking ahead to Cyprus’ upcoming role as the EU presidency in 2026, Christodoulides detailed plans to elevate tourism on the European agenda. He lauded the recent appointment of the first EU Commissioner dedicated to Tourism and commended Commissioner Apostolos Tzitzikostas for his efforts to reposition tourism at the heart of European policy discussions. The prospective introduction of a new European Tourism Strategy during Cyprus’ presidency is set to align with efforts to enhance EU competitiveness and streamline regulatory frameworks.

Ultimately, Christodoulides’ address conveyed a clear message: tourism is not merely an economic driver but a vital cultural bridge and an engine of sustainable prosperity. With strategic planning, robust collaboration, and a focus on innovation, Cyprus is poised to continue its leadership in the European tourism landscape.

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Smart Glass Revolution: EssilorLuxottica And Meta Propel Wearable Innovation

by THEFUTURE.TEAM

October 17, 2025

Partnership Driving Growth

EssilorLuxottica has reported robust revenue growth in the third quarter, fueled by its strategic collaboration with Meta. As detailed during the earnings call, the Ray-Ban Meta smart glasses significantly boosted the company’s wearable product category. With a year-over-year sales increase of 11.7% to 6.9 billion euros, more than 4 percentage points of that growth is directly attributable to the wearables segment.

Innovative Product Launches

The partnership, initiated in 2019, has expanded to include major brands under the Luxottica umbrella, such as Oakley and ongoing collaborations with Prada. The recent Meta Connect event in Menlo Park featured exciting new releases, including the $799 Meta Ray-Ban Display glasses with a unique neural-powered wristband, along with the $499 Oakley Meta Vanguard and $379 Ray-Ban Meta (Gen 2) glasses. These products underscore a significant shift towards smart, internet-connected eyewear that leverages Meta’s AI-powered digital assistant.

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Market Trends And Future Outlook

EssilorLuxottica’s CFO, Stefano Grassi, expressed strong optimism for the near-term outlook, driven by the launch of diverse new products stemming from the Meta Connect event. With wearables anticipated to eventually replace many functionalities of today’s smartphones, the company is poised to accelerate its capacity to meet growing demand, aiming to surpass the previously set target of 10 million units by the end of 2026.

Competitive Landscape

The smart glasses market is witnessing intense competition, with tech heavyweights such as Alphabet, Alibaba, Apple, and OpenAI making their entry. Alphabet, for instance, recently announced a $150 million investment with Warby Parker, while Alibaba unveiled its own AI-powered smart glasses featuring the Quark digital assistant. This flurry of activity underscores a broader industry trend towards the integration of wearable technology with advanced AI capabilities.

Conclusion

EssilorLuxottica’s robust performance and strategic initiatives with Meta highlight a pivotal moment in consumer electronics and wearable innovation. As smart glasses continue to evolve into multifunctional digital devices, both legacy and emerging brands are set to redefine how personal technology converges with everyday life.