cyprus tourism — cyprus tourism — Eurobank reaffirmed its long-standing role as a strategic partner of Cyprus’ tourism sector at the Association of Cyprus Tourist Enterprises (Stek) annual tourism conference 2025, focusing on ‘Sustainable Tourism: The Absolute One-Way Path’.
This pivotal event, supported by Eurobank, centred on the future operating model of the tourism industry. Discussions included trends and applications of artificial intelligence, sustainability solutions, and green transition models. Financing and investment opportunities aimed at supporting businesses in this evolving landscape were also highlighted.
During the conference, Antonis Nicolaides, Head of Commercial Banking at Eurobank, emphasised the tourism industry’s critical role in the Cypriot economy, referring to it as “the backbone” for over 50 years. He noted the sector’s significant contribution to GDP and its resilience amidst challenges.
“The bank offers a specialised unit dedicated to tourism businesses, together with financing capabilities, knowledge and expertise to support future growth,” Nicolaides remarked. He underscored the importance of the professionals and visionary entrepreneurs who steer the industry and the continuous upgrading efforts that have kept it competitive.
However, Nicolaides cautioned that businesses must now invest in modernisation to meet evolving digital trends, rising operating costs, and increasing traveller expectations for authenticity, quality, and sustainability. “As the title of this year’s conference suggests, reality confirms that sustainable tourism is the absolute one-way path for Cyprus,” he stated, highlighting the importance of technology, green development, and service quality in shaping the new model.
In a panel discussion regarding ‘Financing, Incentives and Bankable Investments for Sustainable Development’, Andreas Papadopoulos, Head of Commercial Banking at Eurobank, spoke about the crucial role banks play in supporting the tourism industry. He asserted that financial institutions can provide the necessary financing to enhance competitiveness, drive energy upgrades, and bolster the resilience of hospitality units.
“Through targeted lending, expert guidance, and comprehensive risk assessment, banks can help hotels adapt to new sustainability and climate-resilience requirements,” Papadopoulos noted. He reaffirmed Eurobank’s commitment to being more than just a financier, aspiring to serve as a strategic partner in the sector’s transition towards a sustainable and competitive future.
