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Tourism revenue jumps 30% to April

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Revenue from the key tourism sector reached €418 mln in the first four months of 2023, marking an increase of 30% from last year and up 11.3% on the pre-Covid record-breaking 2019.

According to the results of the Passenger Survey, revenue from tourism in April was €217.6 mln, up by 17.6% compared with April 2022, while compared with April 2019, revenue improved by 16.6%.

The average expenditure per person was slightly down at €634.89 in April compared to €639.65 in April 2022, recording a decrease of 0.7%.

Tourists from Israel, the second largest market with 9.9% of tourist arrivals in April, showed the highest expenditure per day with an average of €120.23.

They were followed by tourists from the United Kingdom (the island’s largest tourist market with a 36.3% share of April arrivals) who spent, on average, €79.51 daily.

Tourists from Poland (the third largest market with 6.7%) spent an average of €77.67 per day, while Greeks spent the least with a daily budget of €35.63.

The average length of stay during April was 7.9 nights, down from 8.7 nights a year ago.

Tourism spending peaks in August, and monthly income has increased on last year in the first four months.

Revenue from tourism last year reached €2.43 bln from €1.51 bln in 2021 and €39 mln in Covid-ravaged 2020.

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.

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