AGP Executive Report
Last update: 5 hours agoTourism Crackdown: Cyprus will tighten rules on rental housing for tourists after an audit found major oversight gaps, including unsafe properties staying on the registry and thousands of short-term listings without valid registration numbers—new legislation will require stricter checks and unique EU registration numbers to be verified by booking platforms. Tourism Demand: Tourist arrivals fell 1.7% in June to 489,965, while the first half of 2026 is down 10.1% to 1.66 million, with the UK still the biggest source market. Customs Disruption: Limassol Port customs clearance payments were paused after a technical fault, with emergency payment options (cash/cheque, bank transfer, credit card or deferred payment) introduced to release goods. Social Protection Pressure: Cyprus is among the EU’s lowest spenders on disability support, with Eurostat data showing higher poverty and cost-stress risks for people with disabilities. Labour Enforcement: The labour ministry plans to double inspectors as it steps up checks on illegal or undeclared work, following a crackdown that detained 47 people in restaurants and bars. MP Allowances Scrutiny: MPs receive a flat €685 monthly travel allowance without receipts, renewing debate over transparency and conflict-of-interest rules. Energy Links: Cyprus and Lebanon are pushing a World Bank feasibility study for an electricity interconnection, aiming to connect Lebanon to Europe via Cyprus. Banking Debate: Cyprus is revisiting co-operative banking as consumers worry about competition, low deposit returns and high borrowing costs.
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