Tourism revenue 12% short of 2019 record

Revenue from Cyprus tourism increased by nearly 30% or €80 mln in September on an annual basis, while in the first nine months, the rise in income reached an impressive 88% of pre-COVID levels.

According to data from the Cyprus Statistical Service, tourism revenue reached €348.3 mln in September alone compared to €268.2 mln in September 2021, recording an increase of 29.9%.

For the nine months of January – September, tourism income is estimated at €1.965.4 bln from €1.045.2 bln in the same period last year and to €298.9 mln during COVID-ravaged January – September 2020.

Revenue for the first nine months of 2022 was down by €268.6 mln or 12%, compared to the record-breaking pre-pandemic 2019 when it stood at €2.234 bln.

Daily expenditure per person in September increased to an average of €85.97 from €72.53 a day last year.

And total per capita expenditure increased in September to €842.49, from €790.63 in September last year.

Israelis were the biggest daily spenders, with an average budget of €153.40, while the most frugal were Greeks, with €45.11 daily.

Although tourist arrivals in September increased by 21.9%, to 413,382, from 339,242 last year, the average length of stay decreased to 9.8 days from 10.9 days in 2021.

Tourism is a key driver of the economy, contributing around 15% of Cyprus’ GDP.

Pre-coronavirus 2019 was a record year for the Cypriot tourism industry, seeing 3.97 million tourists arrive on the island and spending €2.68 bln.