Cyprus can secure a leading role in the next era of smart and sustainable tourism if it embraces Artificial Intelligence (AI) with urgency and strategic clarity, Deputy Minister for Research, Innovation and Digital Policy Nicodemos Damianou said on Wednesday, addressing a joint government conference on AI and tourism.

Damianou opened his remarks by congratulating Deputy Minister of Tourism Costas Koumis for the island’s record tourist arrivals this year, noting that he had achieved it “without AI”, before adding that this alone shows “where we can go with the use of AI”.

He told the audience that the question is no longer whether AI will transform tourism, stressing that “it is already doing so” and that the conference would showcase “several examples, but also ways in which this can be achieved”.

Drawing on global cases, he pointed to Singapore as “the most complete case of the use of AI in tourism internationally”, referencing everything from airport operations to city traffic and the Marina area, as well as the city-state’s digital twin.

The government there, he said, has created “a complete digital twin of the city with AI”, which supports planning for pedestrian routes, analysing tourism by region, predicting ecological impacts, and improving accessibility and safety.

Cyprus has secured the top spot in a global holiday home index, created and published by Compare the Market’s home loan division.

The report, based on an analysis of over 50 destinations, found the island to be the most desirable location to purchase a holiday residence.

Specifically, the island achieved an overall score of 8.25/10 in the index, which evaluated destinations based on factors including available activities, housing prices, and local weather.

“The country is renowned for its rich ancient history, its mythological ties to the ancient Greek goddess of love, Aphrodite, its beautiful beaches, and its superb wines and produce,” the company said in its report.

Cyprus is seeking to position its ports as a point of stability and connection in a region marked by shifting alliances and new trade corridors, the new president of the Cyprus Shipping Agents Association (CSA), Reginos Tsanos, said at an event marking the body’s 80-year presence in the country’s maritime landscape.

According to the statement, the anniversary gathering brought together senior officials, including Transport Minister Alexis Vafeades, Shipping Deputy Minister Marina Hadjimanolis, attorney-general George Savvides and Limassol Mayor Yiannis Armeftis, while MP Fotini Tsiridou represented the speaker of parliament.

In his remarks, Tsanos described a maritime sector operating against a backdrop of continued geo-economic change.

The Cyprus Shipping Chamber (CSC) took part in the 60th-anniversary events of the European Shipowners’ Association (ECSA) in Brussels on December 9 and 10, reaffirming its intention to contribute actively to EU maritime policy.

According to the chamber, the gatherings brought together European transport commissioner Apostolos Tzitzikostas, senior European Commission officials, members of the European Parliament, international shipping bodies, social partners and senior executives from across the European and global maritime community.

The programme emphasised the sector’s role as an economic engine for Europe, as well as a source of security, energy efficiency and supply-chain resilience.

As part of the celebrations, the chamber attended the special anniversary event ‘60 Years of Being the Voice of European Shipping’.

The Cyprus Real Estate Agents Association (Skek), which operates under the umbrella of the Cyprus Chamber of Commerce and Industry (Keve), released a statement this week addressed to the House, outlining its efforts to amend the regulation of the profession.

Specifically, it urged the House internal affairs committee to “immediately examine and vote on a legislative proposal submitted by the association to reform the Real Estate Agents Law of 2010”.

“The proposal, which has already received full legislative technical processing, aims to modernise the current legal framework, limit the excessive powers of the Real Estate Agents Registration Council, and prevent abusive practices that have been observed over time,” the statement said.

“Reform of the legislation is necessary for a healthy and competitive market,” said Skek president Christos Nicolaou.

“A monopolistic body cannot arbitrarily determine the fate of an entire sector,” he added.

The Bank of Cyprus (BoC) has been named ‘Best Foreign Exchange Bank in Cyprus’ at Global Finance’s annual Gordon Platt Foreign Exchange Awards, a distinction the bank sees as confirmation of its steady progress in digital FX services and customer support.

According to the announcement, Global Finance based its decision on a series of indicators, including transaction volume, market share, global reach, pricing, customer service and the use of innovative technologies.

Submissions were evaluated alongside input from analysts, corporate executives and technology specialists.

Cyprus’ largest bank pointed to the momentum of its upgraded digital service, BOC eFX Convert, describing it as a milestone in foreign exchange services and a key reason for the award.

Total government employment in Cyprus registered a marginal increase in November 2025, reaching 55,367 persons, according to a report from the state statistical service (Cystat).

The report showed mixed trends across different government services and employee categories when compared to November 2024.

Cystat reported that the total number of government employees recorded a slight increase of 124 persons, representing a 0.2 per cent rise compared to the same month the previous year.

Employment within the civil service and the security forces saw declines of 0.9 per cent and 0.5 per cent respectively.

Conversely, the educational service recorded an increase in employment of 2.2 per cent.

Cyprus’ travel industry needs to treat winter as its next real growth frontier, the president of the Association of Travel and Tourism Agents of Cyprus (Actta), Charis Papacharalambous, told members at the association’s annual general meeting in Nicosia.

The meeting came at the end of a year in which Actta marked its 70th anniversary and reviewed a packed list of initiatives.

After outlining the sector’s strong performance in 2024, he noted that arrivals exceeded 4 million, with the EU accounting for 42.5 per cent and Europe overall 83 per cent, generating more than €3.2 billion in revenue and lifting tourism’s contribution to GDP above 13 per cent.

However, as he put it, success should not rest on historic records alone but on “the real potential of our industry”, as well as on strategic goals, the removal of long-standing distortions, the adoption of modern practices, and the overall experience visitors take away.

Technology, he added, is pushing the industry forward at a pace that leaves no room for slow adaptation. Cyprus, in his view, needs to become “more flexible, more efficient, faster and much more substantial”.

More than 400 students from across Cyprus gathered at the University of Cyprus for the launch of this year’s JA Cyprus ‘Student Enterprise’ programme, held in collaboration with Coca-Cola HBC Cyprus.

The Kick Off Workshop, which took place beginning of December, marked the first major milestone in the companies’ long-standing partnership under the YouthEmpowered initiative.

Throughout the day, students who are taking part in the JA Company Program heard from senior Coca-Cola HBC Cyprus executives across sales, marketing, supply chain, human resources, partnerships and communications.

They were offered a first-hand introduction to how a large organisation operates, while also receiving practical advice on teamwork, creativity and the early steps of entrepreneurship.

This first encounter, organisers noted, often shapes the ideas that later grow into fully formed student companies.

Alpha Bank Cyprus on Thursday announced that it has successfully completed the certification processes for the international standards ISO 14001:2015 and ISO 45001:2018, integrating all its operations, branches, and workplaces into two comprehensive systems.

These include an environmental management system and an occupational health and safety management system.

“Through these certifications, the bank ensures that it operates according to high international standards, ensures compliance with the legislative and regulatory framework, and commits to improving its environmental performance and responsible business operations at every level,” Alpha Bank said.

According to the announcement, ISO 14001:2015 establishes the framework for consistent monitoring and reduction of environmental impacts, promoting the rational use of resources and the continuous improvement of the bank’s environmental performance.