Cyprus Business Now

Tourist arrivals in Cyprus reached 321,858 in August of this year, reflecting an increase of 208.7 per cent compared to August of the previous (during which 104,261 arrivals were recorded), and a decrease of 41.9 per cent compared to August 2019 (with 553,845 arrivals being recorded at the time).

Cyprus Statistical Service data also showed that between January and August of this year, 960,150 tourists arrived in Cyprus, an increase of 535,300 over the respective period in 2020 (126 per cent), but down by 64.9 per cent compared to the same period of the year in 2019, when 2,735,839 arrivals were recorded.

Demetris Thoma, the General Manager of the Metropolis Mall in Larnaca, said that he has noticed optimism from businesses and consumers alike since the opening of Larnaca’s new shopping centre.

“There were some challenges related to the delays we faced in terms of materials and stores but these have been overcome,” Thoma told Cypriot outlet InBusiness News.

“I am already seeing a lot of optimism from both renters and consumers and I think that things will go well from this point onwards,” Thoma added.

The number of Cypriots travelling abroad increased sharply year-on-year during August, a report by CyStat has shown.

96,558 Cypriot residents returned to Cyprus from a trip abroad during August of 2021, an increase of 120.5 per cent over the same month of 2020, but a 44.2 per cent decrease over the August of 2019.

The main countries from which Cypriot residents returned in August 2021, were Greece with 50.1 per cent, the United Kingdom with 5.6 per cent, Russia with 4.5 per cent and Italy with 4.0 per cent.

The Cyprus Stock Exchange (CSE) ended Friday, September 17, with negligible losses.

The main Cyprus Stock Market Index was at 67.16 points by 13:03 during the day, reflecting a decrease of 0.03 per cent over the previous day.

The FTSE / CySE 20 Index was at 40.13 points, representing losses of 0.05 per cent. The total value of transactions came up to €70,283.32.

In terms of sub-indexes, the hotel index moved upwards by 0.46 per cent, while investment firms went down by 0.45 per cent.

The biggest investment interest was attracted by Vassiliko Cement Works Public Company Ltd (€27,608.04 worth of transactions, no change in stock price), Logicom (€26,723.13 worth of transactions, +0.63 per cent), The Cyprus Cement (+0.96 per cent), and CCC Tourist Enterprises (+0.74 per cent), and Bank of Cyprus (+0.48 per cent).