Industry News

Cyprus nets a record tourism year

Cyprus nets a record tourism year

Almost three million tourists visited Cyprus in the first 10 months of 2016, data from the Ministry of Finance showed.

The increase, compared to the same period in 2015 is estimated at 20.3%. Arrivals in October alone increased by 32.6% to 357,194, the Ministry says, meaning that Cyprus has already beaten its previous record for a full year, which was 2.69 million visitors in 2001.

Cyprus has benefited from an upsurge in arrivals, especially from its largest markets such as Britain, Russia, Greece and the MENA region. Both tourists and investors consider Cyprus as a regional safe heaven.

“The results indicate that the initial estimate for an exceptional year are verified and the strategic target set at more than three million arrivals for 2016 will be achieved,” said the Cyprus Tourism Organization in an official statement.

Income from tourism related activities represents about 12% of the country’s gross domestic product and is credited for helping to achieve its quick recovery from the Eurozone crisis.


Standard & Poor’s upgrades Cyprus and Hungary

Standard & Poor’s upgrades Cyprus and Hungary

2016-10-17
2016-10-17

Standard & Poor’s upgrades Cyprus and Hungary

The rating agencyStandard & Poor’s has upgraded the Cyprus economy in its latest review from BB-

Cyprus, Hungary
Cyprus launches redesigned citizenship by investment program

Cyprus launches redesigned citizenship by investment program

2016-09-13
2016-09-13

Cyprus launches redesigned citizenship by investment program

Easier and safer, the enhanced CIP offers multiple new benefits Montreal, September 13, 2016 —

Cyprus, Press releases
Cyprus continues to impress

Cyprus continues to impress

2016-08-12
2016-08-12

Cyprus continues to impress

The Boston Consulting Group has released the 2016 Sustainable Economic Development Assessment report where the

Cyprus