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United Kingdom And Israel Drive Cyprus Tourism As July Revenue Climbs To €536.5 Million

by THEFUTURE.TEAM

October 2, 2026

Higher Visitor Spend Lifts Revenue Despite Softer Arrivals

Cyprus tourism revenue rose 4.6% year on year in July to €536.5 million, according to the Cyprus Statistical Service (Cystat), as stronger visitor spending offset a modest decline in arrivals during a summer season disrupted by the Iran war.

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Although the monthly gain points to resilience in the sector, the broader trend remains weaker. For the first seven months of the year, tourism revenue stood at €1.76 billion, down 7.0% from €1.89 billion in the same period last year.

In July, average expenditure per visitor increased 5.7% to €920.66 from €870.78 a year earlier. Total arrivals slipped slightly to 582,754 from 589,116, while the average length of stay fell to 8.6 days from nine days. Even so, daily spending climbed from €96.75 to €107.05.

Britain Remains The Anchor Market

The United Kingdom remained Cyprus’ largest source market, accounting for 31.9% of all arrivals, followed by Israel at 20.5% and Poland at 6.3%.

British arrivals eased to 185,981 from 189,730, but UK visitors stayed longer on average, with the length of stay rising to 10.3 days from 9.9. Their average spending per person increased sharply to €1,137.69 from €992.90, while daily expenditure rose to €110.46 from €100.29. For Cyprus, that combination matters: fewer visitors, but more valuable ones.

Israeli arrivals rose markedly to 119,293 from 76,557, with the average stay edging up to 4.7 days from 4.6. Israeli tourists also spent more, lifting average expenditure to €743.49 per person from €695.05 and daily spending to €158.19 from €151.10.

Mixed Performance Across Core European Markets

Polish arrivals declined to 36,912 from 43,713, while average stay shortened to 7.2 days from 7.5. Average expenditure fell slightly to €664.37 per person, though daily spending improved to €92.27 from €90.23.

German arrivals slipped to 21,338 from 23,694 and the average stay edged down to 10.2 days from 10.6. Despite the softer volume, German tourists spent more overall, lifting average expenditure to €967.67 from €906.51 and daily spending to €94.87 from €85.52.

Swedish arrivals declined modestly to 19,899 from 20,455, while the average stay shortened to 9.1 days from 10.1. Even so, average expenditure rose to €1,041.29 from €1,029.33 and daily spending increased to €114.43 from €101.91.

Danish arrivals edged down to 14,494 from 14,857, with the average stay falling to 7.8 days from 8.2. Spending per person rose to €1,062.42 from €1,007.32, and daily expenditure increased to €136.21 from €122.84.

Norwegian arrivals moved higher to 14,055 from 12,704. Visitors from Norway spent an average of €1,261.85 per person and €138.66 per day, based on an average stay of 9.1 days.

Arrivals from Greece declined to 12,385 from 13,383, and average stay shortened to 9.2 days from 10.3. Yet Greek visitors increased their average expenditure to €514.72 from €427.18 per person, while daily spending rose to €55.95 from €41.47.

US arrivals inched up to 10,531 from 10,051, but the average stay dropped sharply to 10.6 days from 12.9. Average spending per visitor fell to €884.34 from €1,114.82, while daily expenditure slipped to €83.43 from €86.42.

Austrian arrivals fell to 9,068 from 12,295, while average stay ticked up slightly to 7.9 days from 7.7. Spending by Austrian visitors declined to €850.06 per person from €1,004.45, with daily spending falling to €107.60 from €130.45.

Swiss arrivals dropped to 8,609 from 12,033, but average stay rose significantly to 9.3 days from 7.6. Swiss visitors increased their average expenditure to €1,196.34 per person from €900.93, and daily spending rose to €128.64 from €118.54.

Arrivals from the Netherlands declined to 6,973 from 8,630, even as the average stay lengthened to 9.9 days from 9.1. Average spending fell to €886.65 per person from €975.66, while daily expenditure dropped to €89.56 from €107.22.

French arrivals recorded one of the sharpest declines among major markets, falling to 6,797 from 12,648. The average stay edged up to 9.7 days from 9.6, and average expenditure rose to €899.65 from €813.63 per person, with daily spending increasing to €92.75 from €84.75.

Belgian arrivals increased to 4,157 from 3,614, while the average stay rose to 9.4 days from 8.8. Average expenditure climbed to €1,179.80 from €1,095.63 per person, and daily spending inched up to €125.51 from €124.50.

Finnish arrivals also rose, reaching 4,112 from 3,701.

Italian arrivals fell sharply to 4,019 from 7,970, while the average stay shortened to 6.4 days from 7.9. Average expenditure declined to €664.65 from €717.54 per person, although daily spending increased to €103.85 from €90.83.

Arrivals from Lebanon decreased to 5,481 from 6,396, Cystat said.

Spending Is Supporting The Market

The July data suggest a tourism model increasingly dependent on yield rather than volume. Higher spending per visitor more than compensated for slightly lower arrivals, lifting monthly revenue even as average stays became shorter.

For the year to date, however, the picture is still subdued. Tourism revenue for the first seven months remains 7.0% below last year’s level, underscoring the uneven recovery facing Cyprus as geopolitical disruption continues to weigh on travel patterns.

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ESMA Pushes EU To Tighten Crypto Rules On Fraud, Influencers And DeFi Risk

by THEFUTURE.TEAM

October 2, 2026

The European Securities and Markets Authority is pressing Brussels to strengthen the European Union’s crypto rulebook, warning that the current framework leaves gaps that can be exploited by fraudsters, unregulated promoters and fast-evolving digital asset business models.

A Regulatory Reset For A Fast-Changing Market

In a set of recommendations to the European Commission, ESMA said the bloc should simplify its crypto regime while tightening investor protections and adapting to developments such as decentralised finance, staking, lending and borrowing. The regulator’s central message is clear: Europe needs a framework that is easier to apply, but harder to abuse.

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That balance matters. Crypto markets have expanded beyond simple token trading into a broader ecosystem that includes yield products, liquidity services and increasingly complex structures. Regulators, ESMA argued, must keep pace with that shift rather than rely on rules designed for an earlier stage of the market.

Tougher Rules For Promotion And Disclosure

Among ESMA’s main proposals are stricter standards for crypto marketing, particularly where digital assets are promoted by online influencers and third parties. The authority wants clearer safeguards around promotional activity that can mislead retail investors or obscure the risks involved.

It is also calling for greater transparency on fees and costs across the sector, alongside proportionate disclosure requirements for staking, lending and borrowing products. Those disclosures, ESMA said, should spell out the relevant costs, risks, rewards, collateral arrangements and the possibility of losses before an investor commits capital.

For a market often marketed on speed and simplicity, the regulator’s message is that complexity must be laid bare rather than glossed over.

Sharper Tools Against Fraud And Non-Compliant Firms

ESMA is also seeking stronger supervisory powers to tackle unauthorised services, online fraud and stablecoins that do not meet EU standards. That includes improving the bloc’s ability to detect, block and deactivate fraudulent websites, as well as freeze crypto assets where there is suspicion of market abuse or terrorist financing.

The watchdog wants a firmer approach to firms based outside the EU that solicit European investors without authorisation under the Markets in Crypto-Assets regime, known as MiCA. It is also pushing for explicit rules preventing regulated crypto firms from offering services linked to stablecoins that fail to comply with MiCA requirements.

The goal is to speed up enforcement and reduce the scope for regulatory arbitrage, where firms exploit differences in national supervision or jurisdictional loopholes to sidestep tighter oversight.

Clarifying DeFi And Token Classification

As decentralised finance and stablecoins continue to grow, ESMA says the EU needs clearer criteria for determining which activities are truly decentralised and which should fall under regulatory supervision. It also proposes the creation of a new regulated crypto-asset service for firms that give users access to DeFi protocols.

At the same time, the authority wants more certainty around how crypto-assets are classified, including newer structures such as hybrid tokens. To reduce inconsistency across the single market, ESMA suggests giving itself the power to issue binding opinions on token classification so that identical products are treated the same across the EU.

That move would not only support harmonised enforcement, but also help firms navigate a market where the boundary between financial instrument, utility token and payment asset is increasingly blurred.

Simplification Without Weakening Oversight

Despite its tougher posture on fraud and consumer protection, ESMA also supports parts of the EU’s broader simplification agenda. It recommends streamlining crypto-asset white paper notification procedures, cutting duplicate authorisation requirements for some regulated firms and improving the consistency of prudential rules.

In practice, that would aim to reduce compliance friction for legitimate businesses without sacrificing supervisory standards. For established firms, the benefit would be fewer procedural overlaps; for investors, the gain would be clearer and more consistent protections.

Looking Beyond MiCA

ESMA’s proposals do not stop at the immediate review of MiCA. The authority says the EU should also prepare a framework for tokenised securities and on-chain settlement, laying the groundwork for a more integrated European tokenised capital market.

That longer-term vision points to a future in which securities issuance, trading and settlement increasingly move on-chain, with cross-border activity made easier by common rules and interoperable infrastructure. For Europe, the stakes are significant: get the framework right, and the bloc could become a serious hub for regulated digital finance. Get it wrong, and activity may migrate to jurisdictions that can move faster.