Tourism in Cyprus continued to strengthen in June 2025, with tourist arrivals rising 3.4 per cent year-on-year to reach 498,527, compared to 482,261 in June 2024, according to the state statistical service.

For the first half of the year, tourist arrivals totalled 1,843,013, up 11.5 per cent from 1,652,475 in the corresponding period of 2024.

The United Kingdom remained the largest source of incoming tourists, accounting for 36.4 per cent of arrivals in June 2025, with 181,610 visitors.

This was followed by Poland with 7.3 per cent or 36,616 tourists, Israel with 6.1 per cent or 30,246, Germany with 5.3 per cent or 26,643, Sweden with 4.8 per cent or 23,750, and Romania with 3.4 per cent or 16,860.

Cyprus’ property market remained resilient in the first half of 2025, with sales documents rising 16 per cent year-on-year and the total value of property transfers approaching €2.3 billion.

Paphos continued its upward trend, posting €485 million in transfer values and a 20 per cent rise in sales documents to 1,653, both for permanent and tourist investment.

The Cyprus Real Estate Agents Registration Council, citing data from the Department of Lands and Surveys (DLS), revealed on Thursday that 8,729 sales documents were filed between January and June, up from 7,553 in the same period last year.

Although transfer volumes edged up just 0.5 per cent, their total value jumped nearly 10 per cent.

“Despite geopolitical tensions and wider instability during the second quarter, the property market has held its momentum and continues to perform remarkably well,” said council president Marinos Kineyirou.

Cyprus’ Harmonised Index of Consumer Prices (HICP) rose by 0.5 per cent year-on-year in June 2025, according to figures published by the statistical service on Thursday.

When compared with the previous month, prices increased by 0.4 per cent between May and June 2025.

The annual inflation rate reflects subdued price pressures, as several categories posted declines or only modest increases.

Compared to June 2024, the most significant price increases were observed in recreation and culture, which rose by 7.5 per cent, and in restaurants and hotels, which recorded a 5.5 per cent increase.

The steepest decline was registered in clothing and footwear, which fell by 5 per cent over the same period.

The Paphos regional tourism board (Etap) on Thursday announced a change in leadership, with Michalis Mitas appointed as its new president.

Mitas takes over following the conclusion of previous president Kyriakos Drousiotis’ two consecutive terms from 2021 to 2025.

At a special session held on Wednesday, the outgoing president said that he was “handing over a financially healthy tourism organisation with a legacy for an even smarter, more accessible, sustainable, and creative destination“.

In addition, he wished the new president “success in continuing the productive work of his predecessors and contributing further to the strengthening and consolidation of Paphos’ tourism body”.

The cost of transitioning to a net-zero emissions economy in Cyprus depends heavily on the chosen policy mix, particularly regarding how carbon tax revenues are used, according to research conducted by the Finance Ministry in collaboration with the University of Cyprus’ Economics Research Centre (CypERC).

The findings of this research were published in a European Commission study aimed at assessing macroeconomic and fiscal risks from climate change, drawing on approaches and experiences from member states.

In a post on the social media platform X, the Finance Ministry explained that the commission’s study explores how macroeconomic and fiscal risks stemming from climate change should be addressed.

Logicom Public Ltd has confirmed that the company has posted its approved dividend to shareholders.

In an official filing to the regulated market, Logicom stated, “we would like to announce that the dividend (see announcement of 20/06/2025) was posted earlier today”.

Cyprus recorded one of the smallest declines in energy use across the EU services sector in 2023, as the bloc’s overall consumption fell by 1.9 per cent compared with the previous year, released on Thursday by Eurostat, the statistical office of the European Union.

The EU’s services sector consumed a total of 4 937 petajoules (PJ) last year, down from 5 069 PJ in 2022.

However, over the longer term, energy use in the sector has risen by almost a quarter since 1990.

In Cyprus, the services sector remains a major energy consumer, particularly for electricity, which accounts for nearly half of its energy use.

This reliance reflects the country’s economic structure, dominated by tourism, retail, and health-related services.

Across the EU, the services sector accounted for 13.5 per cent of total final energy consumption in 2023.

The National Bank of Greece (Cyprus) on Thursday announced that it has introduced a new fixed-term deposit that combines stable returns with simple and transparent terms.

“In a time of constant change, the need for security and predictability in financial choices becomes more urgent than ever,” the bank said in a statement.

According to the announcement, customers can choose a duration of six or nine months with a fixed interest rate of 1.50 per cent and 1.35 per cent respectively for amounts starting from €75,000.