Brussels, Belgium. Finance Minister Makis Keravnos addressed the Ecofin council meeting on Tuesday, highlighting growing uncertainty for the European and global economy. New Cystat data also showed Cyprus’ tourism revenue rose year-on-year in February 2026.
Ecofin discussions on geopolitical developments
Keravnos, who chaired the session, said discussions would focus on the impact of geopolitical developments on the global economy, building on earlier exchanges at the Eurogroup. “Finance ministers are meeting in an environment of increased uncertainty due to the conflict in the Middle East and the ongoing war in Ukraine,” he said.
He added that the debate would examine economic consequences and potential policy responses, reflecting a rapidly evolving international landscape.
Tourism revenue rises as average spending per tourist falls
Cyprus’ tourism revenue reached €85.3 million in February 2026, a 7 per cent increase from €79.7 million in February 2025, according to a report from the Cyprus Statistical Service (Cystat).
For January to February 2026, total tourism revenue was estimated at €159.9 million, up from €148.9 million in the same period of 2025, representing a 7.4 per cent rise. Cystat said the figures are based on its passenger survey tracking spending patterns among visitors.
Despite the increase in overall revenue, average expenditure per tourist declined. Average spending per person was €581.85 in February 2026, compared with €595.71 in February 2025, a 2.3 per cent decrease.
What do you expect the impact of geopolitical developments will be on tourism spending in Cyprus?