Cyprus Business Now: shipping, tourism, BoC, budget revenues, CSE
Based on results from the passengers survey, revenue from tourism reached €458.60 million in October 2025.
This represented an increase of 12.4 per cent compared with the corresponding month of the previous year, when revenue stood at €407.90 million.
For the period from January to October 2025, tourism revenue was estimated at €3.43 billion.
A series of interviews published through the year captured how policymakers and industry figures see that transition unfolding, and the pressures shaping the course ahead.
In an interview with Cyprus Mail, Marina Hadjimanolis, Shipping Deputy Minister to the President of the Republic, described shipping as a strategic pillar that must evolve without losing its human core.
She spoke of registry growth and green incentives alongside seafarer welfare, training and gender inclusion, arguing that competitiveness and sustainability are not mutually exclusive.
Cyprus, she said, is positioning itself as a reliable maritime partner and a bridge between Europe and the wider region, particularly as it prepares to place shipping high on the agenda of its 2026 EU Council Presidency.
In its latest round-ups aimed at UK travellers planning holidays, celebrations and nightlife breaks, the tour operator positioned Cyprus alongside established global destinations while giving particular prominence to specific locations on the island.
In its guide to the best places to get married abroad, TUI UK said Cyprus stands out as a versatile wedding destination offering religious, legal and symbolic ceremonies.
“Cyprus is a great option if you’re planning a religious wedding,” the company said, adding that couples who have been baptised or christened can opt for an Anglican Church ceremony and even choose their own hymns and readings.
It added that symbolic and legal ceremonies are also available on the island, making Cyprus suitable for a wide range of couples and preferences.
The bank said the warning aimed to prevent fraud and protect customers from misleading investment claims.
Specifically, the bank said that in recent weeks several fake profiles had appeared on Threads, the text-based social media app owned by Facebook’s parent company Meta.
The profiles used the name and photograph of Bank of Cyprus chief executive officer Panicos Nicolaou.
“These profiles falsely present him as offering investment advice or promoting investment opportunities,” the Bank of Cyprus said, stressing that the content is deceptive and unauthorised.
In comments to the Cyprus News Agency (CNA), Mais said “headline performance can give a misleading picture, as underlying pressures, particularly around housing and living costs, continue to weigh on a significant part of the population”.
Looking at Paphos specifically, he said tourism and services, which form the backbone of the local economy, enjoyed an exceptionally strong year.
Tourist arrivals reached record levels, while revenues across the sector rose accordingly, reinforcing tourism’s role as the area’s main growth engine.
That strength, however, has not translated into easier access to housing. Mais said owning a home is now out of reach for many households, arguing that the state needs to move faster on workable affordable housing measures.
Presenting the budget execution report for the period from January 1 to November 30, 2025, the Treasury said the state budget, prepared on a cash basis, projected a 4 per cent increase in revenues for 2025 to €11.75 billion, compared with €11.28 billion in 2024.
The report added that projected expenditure fell by 4 per cent to €13.01 billion in 2025, compared with €13.60 billion a year earlier.
It said the expected rise in revenues was mainly due to higher direct taxes of €0.27 billion and indirect taxes of €0.17 billion, while the projected reduction in expenditure stemmed largely from lower loan repayments of €0.76 billion, partly offset by increased social benefits spending of €0.15 billion.
In statements made on Monday, Christodoulides also outlined the performance of the exchange, its development initiatives, as well as its wider role in the economy.
He said that in 2025, “the Cyprus Stock Exchange continued its steadily upward trajectory of recent years, recording notable activity as well as increased investment interest, within a highly changeable international environment characterised by economic challenges, instability and growth opportunities”.
“Specifically, up to December 29, 2025, the General Price Index of the CSE recorded a positive change of 27.29 per cent compared with its level on December 31, 2024,” he added.
The CSE chief explained that “the average daily trading activity amounted to €699,000, a figure that reflects the gradual strengthening of market liquidity”.
Specifically, Eurostat reported that the EU imported approximately 120,000 tonnes of fireworks worth €406.7 million from countries outside the EU during 2024.
Cyprus recorded fireworks imports worth €264,052 in 2023, corresponding to 39.513 tonnes.
In 2024, Cyprus imported fireworks valued at €470,468, nearly doubling the previous year’s figure.
The volume of fireworks imported by Cyprus also rose significantly, reaching 79.089 tonnes in 2024, compared with 39.513 tonnes in 2023.