Tourism revenue increases 46.7% in August 2022

Revenue from tourism reached €399.7 mn in August 2022 compared to €272.5 mn in August 2021, recording an increase of 46.7%.   On the basis of the results of the Passenger Survey carried out by the Statistical Service of Cyprus, for the period of January – August 2022, revenue from tourism is estimated at €1,617.1 … Read more

Impact of sanctions against Russia on Cypriot shipping “totally manageable,” says DepMin for Shipping

The impact taken by the European Union against Russia on Cyprus’ shipping industry are “totaly manageable,” Deputy Minister for Shipping Vassilis Demetriades has said.   Briefing the parliamentary committee of finance and budgetary affairs on the Deputy Ministry’s budget for 2023, Demetriades said that 144 ships have been delisted from the Cypriot registry in the … Read more

Disproportionate migratory flows are forcing national asylum and reception systems to their limits, says Interior Minister

The disproportionate migratory flows have led to a situation of force majeure, forcing to their limits the national asylum and reception systems, said Interior Minister Nicos Nouris.   Signing on Monday an agreement on the implementation of the Second Swiss Contribution between the Republic of Cyprus and the Swiss Federal Council, in Bern, the Minister … Read more

BBF as the only Cyprus solution discussed between Greek Cypriot and Turkish Cypriot political parties

Leaders and representatives of Greek Cypriot and Turkish Cypriot political parties expressed opinions on the topic proposed by the hosting party, AKEL: “BBF solution as the only way forward: neither two states, nor “new ideas” undermining achieved core convergences.”   According to a Joint Communiqué following the regular meeting of leaders and representatives of the … Read more

Cyprus has largest rise in tax to GDP ratio from 2020 to 2021 according to Eurostat

Cyprus saw the largest rise in the EU in its tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of gross domestic product (GDP), in 2021 compared to 2020, according to data released by Eurostat, the statistical service of the European Union.   The country’s tax-to-GDP ratio increased from 34.0% … Read more

Arrivals from EU increased in 2022 by 22%, compared to 2019, says Deputy Minister of Tourism

Cyprus tourism did very well, reaching 80% of tourist arrivals in 2019, with arrivals from the EU increasing by 22%, while for the first year in 2022 the budget of the Deputy Ministry of Tourism is fully absorbed, said Deputy Minister Savvas Perdios, who also underlined that the EU tourism market is “the most stable … Read more

Electricity prices up by 32% in Cyprus along with increases all over the EU in first half of 2022, Eurostat data show

In the first half of 2022, average household electricity prices in the European Union increased sharply compared with the same period in 2021, from 22.0 euro per 100 kWh to 25.3 euro per 100 kWh, according to data released by Eurostat, the statistical service of the EU.   The same data show a 32% increase … Read more

Cyprus and Israel agree on a road map to speed up “Euroasia Interconnector” implementation

According to a Cyprus Energy Regulatory Authority (CERA) press release, the meeting focused on the provisions and the way of implementation of EU Regulation 2022/869 regarding the guidelines for trans-European energy infrastructures, in the context of the evaluation of the “Euroasia Interconnector” project .   The conference was organized by CERA in cooperation with the … Read more

Emirates announces it will resume daily operations to Cyprus

Emirates air carrier announced on Monday its plans to increase the flight frequency of its Malta-Larnaca-Dubai route to a daily service starting 1 December 2022. This will bring back the airline’s operations on this route “back to pre-pandemic levels, signalling a steady recovery amid easing of travel restrictions worldwide”, the airline said in a press … Read more

Resistance to change, the biggest problem in digital transformation effort, Deputy Minister says

The biggest problem faced in the effort for digital transformation is resistance to change, Cyprus’ Deputy Minister for Research, Innovation and Digital Policy, Kyriacos Kokkinos said on Monday in parliament where he presented his Deputy Ministry’s budget for 2023 and the work it has carried out during the past two years since its establishment.   … Read more