Cyprus tourism revenue hits new high

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Cyprus tourism stakeholders are rejoicing as revenues continue to soar, surpassing the 2019 levels, considered the island’s peak year for tourism, according to data from the Statistical Service.

The travelers’ survey for January to September paints a vibrant picture of the island’s tourism scene, with revenues peaking at €2.45 bln, a significant leap from the €1.96 bln recorded in the same period in 2022 — a remarkable 25.0% increase.

Reflecting on the golden days of 2019, the nine-month stretch saw tourist revenues totaling €2.234 bln.

September showcased the thriving tourism sector, with revenues hitting €428.4 mln, a substantial growth from the previous year’s €348.3 mln, marking a 23.0% increase. In the heyday of September 2019, revenues were at €377.2 mln.

The per capita spending also experienced a delightful uptick.

Per capita also up

In September this year, tourists indulged in a lavish lifestyle, with per capita spending rising 4.3% to €879.13 from €842.49 in September 2022.

Breaking down the jet-setting styles, British tourists, claiming the title of the largest tourist market with a 34.0% share in September 2023, embraced a sophisticated spending pattern at an average of €102.38 per day. Meanwhile, the second-largest market, Israeli tourists, contributed to the cosmopolitan vibe, spending an average of €149.81, capturing 11.7% of the total.

Not to be outdone, tourists from Poland, securing their spot as the third-largest market at 6.7%, showcased their unique flair with a daily spending spree of €93.19, adding an eclectic touch to the thriving lifestyle of Cyprus’ tourism sector.

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, with 3.97 mln arrivals spending €2.68 bln.