Cyprus is captivating UAE tourists with a 14 percent increase in visitors, thanks to improved air links and targeted promotions. Strategic partnerships and investment prospects are boosting Cyprus’s appeal as a culturally rich and accessible destination for travelers from the Middle East and Asia.
President Christodoulides unveiled Cyprus’ Economic Strategy in London, emphasizing fiscal discipline, bold reforms, and a stable financial sector to attract investments and enhance global competitiveness. The plan aims to leverage the Cypriot diaspora for economic opportunities and reshape the nation’s economic landscape.
Finance Minister Makis Keravnos is dedicated to enhancing Cyprus’s economic model through sustainable growth and increased investments, with a focus on sectors like agriculture and tourism. He aims to create synergies across sectors, implement reforms, and transition towards a green and digital economy, projecting stable inflation rates and reduced public debt by 2026.
The Bank of Cyprus successfully appealed a €950,000 fine imposed by the Cyprus Securities and Exchange Commission due to a breach in impartiality. This legal victory highlights the importance of fairness in financial regulatory enforcement and may lead to changes in how regulatory bodies handle similar cases in the future.
The PwC Cyprus Annual Real Estate Report for 2023 shows a strong real estate market in Cyprus, with transactions reaching €5.5 billion. While the highend market saw a decline, the Larnaca district experienced a 22% increase, and foreign property acquisitions rose by 16%, emphasizing Cyprus’s appeal for business.
