Tourism revenue in Cyprus climbed to €373.3 million in May 2025, according to the latest results on Wednesday from the passengers survey conducted by the statistical service (Cystat).
This marks a 20.2 per cent increase compared to May 2024, when it stood at €310.5 million.
For the five-month period from January to May 2025, revenue from tourism is estimated at €955.8 million, a rise of 27.2 per cent over the €751.2 million recorded in the same period of 2024.
In terms of individual spending, the average expenditure per person in May 2025 reached €779.08, reflecting a 5.7 per cent increase compared to €736.82 in May 2024.
As in previous months, the United Kingdom remained the largest source of tourists to Cyprus, accounting for 37.4 per cent of total arrivals in May. Travellers from the UK spent on average €97.77 per day.
Branded as ‘Cavalli by Limassol Blu Marine,’ the high-rise development will mark the first Cavalli-branded residential project not only in Cyprus but across the entire region.
Positioned just steps from the marina and the city’s commercial district, the tower will offer uninterrupted views of the Mediterranean, with interiors designed by Roberto Cavalli’s own creative team.
The show apartment is already drawing attention, featuring floor-to-ceiling windows, expansive terraces, and integrated smart home technology, all within a prime beachfront setting.
The launch coincides with a period of record activity in Cyprus’ property sector, where strong transaction volumes and market resilience are fuelling investor confidence.
Both companies are headquartered in Limassol. Interorient is led by Cypriot shipping executive Themis Papadopoulas, while Danship and Partners is headed by Indian maritime professional Captain Danniel Gautam Chopra.
“This mega investment symbolises the deep and wide diplomatic relations, bilateral, between India and Cyprus and will bring the two countries even more closer to each other,” the official announcement stated.
The development follows Indian Prime Minister Narendra Modi’s state visit to Cyprus on June 15, the first by an Indian Prime Minister in over two decades.
The summit will take place from September 18-20, 2025, at the Jio World Convention Centre in Mumbai, India.
The event, organised by the Indian Chamber of Commerce, will bring together senior industry leaders, policymakers, investors and innovators from around the world to discuss business opportunities and develop strategic partnerships.
The summit will feature high-level sessions, sector-focused discussions and arranged B2B meetings, offering companies a platform to establish direct contacts with potential partners and investors.
Key sectors of focus at the summit will include manufacturing and industry, food processing and agritech, information technology and artificial intelligence, defence, aerospace and space, energy and green technologies, and financial services.
In a filing to the Cyprus Stock Exchange (CSE), the company confirmed that the payment, amounting to €0.02 per share, was completed on Tuesday, July 29, 2025.
For shareholders whose shares are managed by a Member of the Cyprus Stock Exchange (CSE) and based on the new CSE cash distribution procedures, the net amount of the dividend was transferred to the member’s client account.
She referred to the second Women in Maritime survey, co-published by the International Maritime Organisation (IMO) and the Women’s International Shipping and Trading Association (WISTA), which offered valuable insight into the gender gap in the sector, showing just 176,820 women in maritime roles as of 2024.
However, the challenges, she added, extend beyond gender alone. Across the industry, many underrepresented and marginalised groups continue to face significant barriers that limit opportunity and career progression.
Paschkewitz stressed that the transition from sea to shore-based roles can be a difficult one, particularly for those who do not see themselves reflected in leadership positions or company culture.
It also urged the government to halt all foreclosure proceedings involving homes belonging to those affected by the recent fires.
In a press release, the president of the association, Costas Melas, explained that “fire-affected citizens are being asked to cope not only with the need for immediate survival and restoration, but also with the existing financial obligations that burden the majority of them, such as loan instalments and other credit commitments”.
“It is clear that under the current circumstances the continuation of loan repayments is practically impossible, while the loss of income, the need for housing, insecurity and anxiety about the future create an unbearable psychological and financial burden,” he added.
The consortium agreement was signed by personal data protection commissioner Irene Loizidou-Nicolaidou, Keve secretary general Philokypros Rousounides, and the executive director of the University of Limassol Ioanna Panayiotou.
The Data ProTech project, officially titled “Supporting Data Protection Compliance in AI Technology Usage by Cyprus SMEs,” aims to support small and medium-sized enterprises in the field of personal data protection when using artificial intelligence.
The project is being implemented under the European Citizens, Equality, Rights and Values programme CERV-2024-DATA.
It has a duration of two years and will receive European funding of €250,000.
Specifically, CySEC published a Consultation Paper proposing changes to the Law Regulating Companies Providing Administrative Services and Related Matters (Law 196(I)/2012), which governs ASPs.
The proposed amendment addresses the current practice regarding the lapse of authorisation for ASPs.
Under the new proposal, an ASP’s authorisation would no longer automatically lapse upon the submission of an express waiver by the licensed entity.
Instead, the authorisation would only cease to be valid following a formal decision of withdrawal by CySEC.
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