Tourism revenue at lowest level since 2009

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Cyprus tourism revenues in 2021 were the lowest recorded in over a decade, excluding 2020, when the travel industry was essentially on COVID-19 lockdown throughout the year.

Annual revenue from tourists reached €1.51 bln in 2021 as the tourism industry followed a recovery path following the COVID-19 pandemic in 2020.

However, excluding 2020, last year recorded the lowest revenue since 2009 when the island generated tourism revenue of €1.49 bln.

According to data released by the Cyprus Statistical Service, revenue from tourism was €1.51 bln, compared with just €392 mln for 2020 and a record €2.68 bln in 2019.

Tourist revenue for January – December 2021 jumped 286% from the year before, marking a reduction of 43.6% compared with 2019.

In December, tourism income was €54 mln from €9.1 mln in December 2020 and broadly unchanged from 2019 (€54.6 mln).

Pre-coronavirus 2019 was also a record year for the Cypriot tourism industry, seeing 3.96 million tourists arrive on the island.

In 2021, 1,936,931 tourists arrived compared to 631,609 in 2020, recording an 206.7% increase and a 51.3% decreased compared to 2019 (3,976,777 arrivals).

Tourism stakeholders were hoping for a better 2022, but the war in Ukraine and sanctions on Russia have dashed hopes for this summer.

Cyprus expected 800,000 tourists from Ukraine and Russia this year, about 20% of expected traffic.

Authorities have launched a campaign to make up for losses from Russia and Ukraine from other markets.

Losses in tourist arrivals from Ukraine and Russia could be offset by higher volumes from Britain – the island’s biggest market -where there is increasing interest in Cyprus holidays.