Cyprus Business Now

Tourism generated a total revenue of €135.8 million for Cyprus during June of 2021, a number achieved in spite of a number of travel restrictions still in place during that period.

While this is of course an improvement over the summer of 2020, a period during which severe measures had crippled the global travel industry, it still represents a 61.2 per cent decrease over the same period in 2019.

Moreover, according to the Cypriot statistical service, the total revenue generated by the tourism industry between January and June of this year is estimated to be around €258.8 million, a 112.1 per cent increase year-on-year, but 74.2 per cent decrease when compared to the same period in 2019.

Thanos Hotels & Resorts and charity foundation Round Table 7 Paphos came together to offer university scholarships to three exceptional students from the Paphos district.

The scholarships, worth a total of €30,000, were awarded to the three students on Monday, August 23, at a ceremony conducted at the Almyra hotel in Paphos.

The three scholarship recipients have already obtained their undergraduate degrees and will use the awarded funds to continue their educations at the University of Cambridge, Utrecht University and King’s College London respectively.

The Industrial Production Index reached 133,9 units in June of 2021, a 4.6 per cent increase year-on-year.

For the months between January and June of this year, an 8.7 per cent year-on-year increase was recorded.

In terms of the manufacturing sector, a year-on-year increase of 1,5 per cent was recorded, while increases were also recorded in the water supply and materials recovery sector (21,5 per cent), electricity supply (14,1 per cent) as well as mining and quarrying (11,7 per cent).

Regarding the manufacturing sector, the biggest drivers for its overall improvement were manufacturing of furniture, other manufacturing and repair/installation of machinery and equipment (14,7 per cent), electronic, optical products and electrical equipment (9,2 per cent), food products, beverages and tobacco products (7,6 per cent) and machinery and equipment, motor vehicles and other transport equipment (6,4 per cent).