Ayia Napa, Cyprus. Alpha Bank Cyprus held a business-focused event at the Amarande hotel in Ayia Napa this week, bringing together local stakeholders to highlight the strategic role of the free Famagusta region in the Cypriot economy and the bank’s support for its business community. The June 3 gathering focused on local economic prospects, the upgrading of the tourism product, and the role of bank financing in supporting new investment projects.
Event focus and attendance
Representatives of local authorities, business leaders, professionals and bank executives attended the event, which examined economic opportunities in the region and the contribution of financing to business development.
Chief executive remarks
In his address, Alpha Bank Cyprus chief executive Miltos Michaelas said the region has a strong presence in tourism, hospitality, trade and services, and contributes to outward-looking growth and national competitiveness.
He also outlined the bank’s approach to supporting enterprises. “Behind every business there are decisions, risks, plans, people and daily effort,” he said.
“Our role is to understand this reality and stand by our customers with experience, clear judgement and solutions that have practical value,” Michaelas added.
He said that in a rapidly changing environment, businesses need partners that provide stability, consistency and immediate responsiveness, adding that the bank is investing in a modern banking experience supported by technology.
According to Michaelas, that investment is intended to provide faster service, stronger security and solutions aligned with customers’ needs.
Tourism sector emphasis
Alpha Bank Cyprus chief wholesale banking officer Christoforos Stylianides said the tourism sector remains a key driver of growth for the free Famagusta region, supporting employment, attracting investment and sustaining broader economic activity.
He said the region is in a significant phase of upgrading, with a focus on higher-quality tourism, infrastructure development, upscale accommodation and improved visitor experiences aimed at strengthening its position on the international tourism map.