The year-over-year growth rate of a leading indicator used to predict the future direction of economic movements in Cyprus, remained stable in June, as a result of opposing trends within the economic indicators composing the CCLEI, the University of Cyprus said in a monthly report. The Cyprus Composite Leading Economic Index (CCLEI), estimated by the … Read more
A lot of investment has been undertaken for touristic development ranging from hotels to quality places of entertainment and even more important addressing the upgrading of staff, food and service. Previous years with the tourist arrivals have been increasing by approximately 8% p.a. and this, coupled with the planning relaxation given by the then Government, … Read more
A leading indicator, used to predict the future direction of economic movements in Cyprus, turned marginally positive in May, halting the negative year-on-year growth of the index observed in the past three months. The Cyprus Composite Leading Economic Index (CCLEI), estimated by the Economics Research Centre (CypERC) of the University of Cyprus, recorded a year-over-year … Read more
The United Nations High Commissioner for Refugees (UNHCR) in an announcement expresses deep concern for the safety and well-being of approximately 31 asylum seekers, including seven children, who are trapped in the buffer zone (BZ) in Cyprus. It is noted that “Five of them entered the Pournara reception centre to apply for asylum after crossing … Read more
German tourists were the top spenders in Cyprus in March, up from fifth last year, and dished out €779 per person which, based on an average stay of 7.9 days, works out at a cool €98.66 per day, some €30 per day more than their fellow nationals spent on the island in March 2023. School … Read more
A new influx of arrivals will not be allowed by the government in response to mounting criticism over the handling of 27 migrants stranded in the buffer zone. The migrants, including women, children, and unaccompanied minors, are from Afghanistan, Iran, Sudan, and Cameroon. The government’s handling of the matter has been criticized for violating international law. The UNHCR has warned that the asylum seekers are living in tents and exposed to extreme weather without access to decent living conditions.
800 tourists remain in Cyprus awaiting news about their return home after Germany’s third largest tour operator, FTI Touristik GmbH, announced insolvency proceedings. The company cooperated with 160 hotels on the island, but the bankruptcy will not have a significant impact on the market. The stranded holidaymakers are covered by a special fund and will not need to pay more to return home. The German Foreign Ministry and the German Travel Security Fund will manage the repatriation and support of affected tourists.
Cyprus is ready to provide humanitarian assistance to migrants stranded in the buffer zone, with the Red Cross already offering aid. The country has obligations under the EU’s Green Line Regulation and is cautious about becoming a new route for illegal immigrants. Fourteen migrants from Afghanistan, Sudan, Cameroon, and Iran are stranded near a university campus in Aglantzia. The UN Peacekeeping Force and UNHCR are working to assist them, as Cyprus has temporarily suspended asylum applications and increased patrols along the buffer zone. Additionally, asylum applications for Syrian nationals have been suspended due to human rights violations in Syria.
Approximately 30,000 tourists who were expected to visit Cyprus are impacted by the bankruptcy filing of travel provider FTI. This affects around 160 hotels and other businesses in Cyprus that collaborated with the Group. Bookings made through FTI are being cancelled, with efforts to cover part of the trips still underway. The impact on the tourism industry in Cyprus is significant due to various challenges the industry is facing, such as the war in Israel, economic recession in the UK, upcoming elections in the UK, the European Championship, and the Olympic Games.
Thirteen migrants, including unaccompanied children, are now stranded in the buffer zone between Aglantzia and Geri, in addition to the 14 who have been living in tents for the past two weeks. The total number of migrants is now 27. Despite expressing their desire to apply for asylum, the migrants remain trapped in the buffer zone. The UNHCR is providing food, water, hygiene products, and clothing, but the asylum seekers are living in tents and exposed to extreme weather conditions. The Republic of Cyprus is working with relevant ministries and the UN peacekeeping force to address the needs of the migrants.