Cyprus Sees Tourism Revenue and Per Capita Spending Climb
In a notable turnaround from a modest decline at the year’s start, Cyprus has witnessed a substantial increase in its tourism revenue for February 2024. The Cyprus Statistical Service (Cystat) released a report indicating a 15 percent year-on-year surge in tourism income for the month, amounting to €65.1 million, a significant rise from the €56.6 million recorded in February of the previous year.
Overall, the combined tourism revenue for January and February 2024 stood at €110.3 million, marking a 7.9 percent increase from the €102.2 million during the same period in 2023. This growth is further accentuated by an uptick in per capita spending, which escalated to €521.01 in February 2024, up by 9.6 percent from €475.39 in the corresponding month of the previous year.
The report also highlighted spending patterns among different nationalities visiting Cyprus. British tourists, who made up 24.6 percent of total arrivals in February, spent an average of €63.37 per day. Polish visitors followed, accounting for 13.3 percent of tourists and spending €69.87 daily, while Israeli tourists, at 10.6 percent of the market share, had a higher daily expenditure of €113.36.
Parallel to the rise in Cyprus’ tourism sector, global passenger demand also experienced a robust increase of 13.8 percent in March this year, with international flights witnessing an even more substantial growth of 18.9 percent over March 2023, as reported by the International Air Transport Association (IATA).
IATA director general Willie Walsh expressed optimism about the travel industry’s prospects, especially leading into the peak Northern Summer travel season. He emphasized the necessity for the industry to scale up its capacity to meet burgeoning demand and provide a seamless travel experience. Walsh called for urgent action to address supply chain issues and ensure that airports and air traffic management are fully staffed and operating efficiently.
Walsh also touched upon the airlines’ readiness to offer customer care during operational disruptions but voiced concerns over airlines shouldering costs due to inadequate preparation across other segments of the travel industry.
