Cyprus Business Now: tourism performance, government surplus, SME funding

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Cyprus Business Now: tourism performance, government surplus, SME funding

//business-finance.news-articles.net/content/202 .. -performance-government-surplus-sme-funding.html

Published in Business and Finance on Saturday, November 30th 2024 at 2:00 GMT by Bill Williamson
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Tourism revenue in Cyprus reached â‚¬454.1 million in September 2024, according to the statistical service's passenger survey. This marks a 6 per cent increase compared to September 2023, when tourism revenue stood at â‚¬428.

The article from Cyprus Mail, published on November 30, 2024, discusses several key economic developments in Cyprus. It highlights the robust performance of the tourism sector, with a significant increase in tourist arrivals and revenue, particularly from markets like the UK, Russia, and Israel. The government has reported a budget surplus, attributed to higher tax revenues and controlled public spending. Additionally, there's a new initiative aimed at supporting Small and Medium Enterprises (SMEs) through funding programs designed to foster innovation, growth, and competitiveness. This funding is part of a broader strategy to diversify the economy and reduce reliance on traditional sectors like tourism and real estate. The article also touches on the ongoing efforts to attract foreign investment and improve the business environment in Cyprus.

Read the Full Cyprus Mail Article at:
[ https://cyprus-mail.com/2024/11/30/cyprus-business-now-tourism-performance-government-surplus-sme-funding/ ]