The future of the tourism industry and the new model that must be adopted for the benefit of the broader economy and development were discussed during the STEK Annual Tourism Conference 2025, held with the support of Eurobank.
During the conference, titled 'Sustainable Tourism: The Absolute One-Way Path', topics such as trends and applications of artificial intelligence in tourism, sustainability solutions and green transition models, as well as financing and investment opportunities to support businesses in the new era were explored.
In his address to the Conference, Antonis Nicolaides, Head of Commercial Banking at Eurobank, noted that the tourism industry has consistently been “the backbone of the Cypriot economy” for more than 50 years, gaining an increasing share of the Gross Domestic Product year after year thanks to its enduring contribution and remarkable resilience to challenges that arise from time to time.
He emphasised that Eurobank maintains a deep appreciation and strategic relationship with the sector, offering a specialised unit dedicated to serving tourism businesses and providing financing capabilities, knowledge, and expertise to support future growth. According to Nicolaides, Cyprus’ tourism industry stands out for:
- Its long-standing and substantial contribution to the economy
- The professionals and visionary entrepreneurs who lead it
- Experienced and highly capable management teams
- Almost zero non-performing loans
- Continuous upgrading of the tourism product
- Proven resilience to international competition and external crises
Nicolaides stressed that businesses in the sector must invest in modernisation to meet new digital trends, rising operating costs, and significantly increased traveler expectations for authentic experiences, 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, noting that technology, green development, and service quality now define the new operating model for the industry.
On his part, Andreas Papadopoulos, Head of Commercial Banking at Eurobank, during a panel discussion titled 'Financing, Incentives and Bankable Investments for Sustainable Development' emphasised that banks will play a decisive role in supporting the tourism industry in the coming years, by providing financing that enhances competitiveness, drives energy upgrades, and strengthens 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. Eurobank is committed to being more than a financier – it is a strategic partner in the transition of Cyprus’ tourism sector towards a sustainable and competitive future.
