The earthquake situation in Santorini makes the Greek government concerned about its potential impact on tourism

Macro/Political
• The Greek Ministry of Finance is closely monitoring the earthquake situation in Santorini due to concerns about its potential impact on tourism. Prolonged seismic activity could deter tourists, affecting not only Santorini but also Greece’s overall tourism sector. Since the Cyclades account for approximately 10% of the country’s tourism revenue, any disruption poses a significant economic risk.

Source: Kathimerini print edition (06 Feb, pg. 32)

• In January 2025, total passenger traffic at Athens International Airport amounted 1.83mln, recording an increase of 14.5% (y-o-y).

Source: athexgroup.gr

Macro/Political
• According to seasonally adjusted data released by Cystat, in January 2024 the number of registered unemployed persons in Cyprus amounted to 10,447 compared to 10,511 in December 2024 and 11,792 in January 2024.

Source: Cystat

• In November 2024, the Industrial Turnover Index reached 125,3 recording a decrease of 5,6% (y-o-y). For the period January – November 2024, the index recorded an increase of 1,2% compared to the corresponding period of the previous year.

Source: Cystat