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May tourism revenue jumps 40.7%

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A substantial annual increase of over 40% was recorded in tourism revenue for May as holiday arrivals climbed.

According to the official data, tourism revenue in May – when 420,000 tourists arrived – reached €311.0 mln from €221.0 mln in the same month last year, marking an increase of 40.7%.

For the five months of January – May, tourism revenues amounted to €728.6 mln, marking a notable 34.2% surge compared to the same period in 2022 when it was €543.0 mln.

Per capita spending by tourists in May was €740.36, showing a rise of 5.5% from €701.44 in May 2022.

British tourists, constituting the largest tourist market with a 36.6% share, spent an average of €89.83 daily.

Israeli tourists, the second-largest market with an 8.9% share, spent a daily average of €136.11 and Polish tourists, the third-largest market, with 7.3%, spent €79.46 per day.

Tourists from Lebanon had the highest per capita daily spend in May, with €193.89, followed by Austrian tourists with €123.07, Dutch tourists with €120.53, and tourists from the United States with €119.97.

Greek visitors were the most frugal, with an average daily spend of €41.78.

The average length of stay in May was 8.5 days from 8.8 days the year before.

Tourism is a key contributor to the economy generating around 15% of Cyprus’ GDP.

Annual income from tourism has improved for five consecutive months compared to last year.