The fact that tourism appears to be facing some kind of crisis every year in recent times has put the sector on alert and made Cyprus work harder towards diversifying its product, according to deputy tourism minister Savvas Perdios.

Cypriot grape production has collapsed by 93% over the last 30 years, as the island has shifted from being a grape exporter to an importer.

Cyprus ranked sixth among the most popular countries in the world where Britons are likely to travel to in 2022, according to a survey carried out by UK search engine for holiday rentals Holidu.

Cyprus will issue its first-ever Green Bond in 2023, aiming to yield up to €1 billion to finance climate-related or special environmental projects.

The ENI TOTAL consortium will resume work on Block 6 within the Cyprus EEZ. According to information from Kathimerini, the Franco-Italian consortium will initially carry out drilling at a specific point of block 6 in order to have a better picture of the "Kalypso" deposit.

Hellenic Bank is close to offloading the last of its Non-Performing Loans after sealing an agreement to sell a package of NPLs worth over a billion euros and its debt servicing platform APS.

Finance Minister Constantinos Petrides is pleased with Cyprus’ recent upgrading by rating agency DBRS Morningstar from BBB(Low) to BBB, revising its outlook from positive to stable.

European Investment Bank (EIB) president Werner Hoyer during his visit to Cyprus on Monday confirmed that projects in Cyprus absorbed €303 million during the previous year, with both the private and public sectors benefiting from EIB support.

Authorities are confident the island will have a better tourist season, as passenger traffic is expected to increase by 50% in 2022 compared to last year.

Cypriot businesses recorded increases above the EU average in sales and services provided via the web in 2020, according to a new report by Eurostat.