Cyprus seeks to scale up innovation as mountain tourism expands and household costs rise

Agros, Cyprus. Cyprus is increasing investment in mountain and rural tourism to attract more visitors inland, support local communities and strengthen its appeal as a year-round destination, Deputy Tourism Minister Kostas Koumis said on Thursday. Separately, the Research and Innovation Foundation (RIF) called for greater scale in innovation, while a borrowers’ group warned of mounting pressure on household finances.

Research and innovation

RIF director general Theodoros Loukaidis told the Cyprus News Agency (CNA), as the foundation marked 30 years since its establishment, that Cyprus had made substantial progress in research and innovation. More companies, investment and international links are now part of the country’s economic landscape, he said.

“It is no longer something that may perhaps be happening. It is something that is happening in Cyprus,” Loukaidis said, pointing to a broader shift in attitudes. He said the next challenge was to help the ecosystem grow in scale, attract more private investment and talent, and turn research into greater commercial value.

Mountain tourism

Koumis spoke at the conference “Mountain Areas, Special Interest of Tourism and Community Resilience”, held as part of Mountain Games Cyprus 2026. He described authenticity as “a major asset for the tourism sector” and said the character of rural and mountain communities remained central to their long-term appeal.

The four-day Mountain Games programme, organised during the European Week of Sport, includes 35 activities across eight Troodos villages within the UNESCO Global Geopark.

Koumis said the government and the Deputy Ministry continued to invest in mountain and rural areas. Recent studies, he added, showed travellers increasingly seeking nature, outdoor activities and experiences that bring them closer to local communities.

Household finances

The Cyprus Borrowers Protection Association (Syprodat) said on Thursday that rising electricity and fuel costs were putting increasing pressure on household finances and could leave previously reliable borrowers struggling to meet loan repayments.

The association said higher everyday costs were reducing disposable income while monthly obligations continued to rise, making the strain on household budgets harder to absorb.