Revenue from tourism up 26.9% y-o-y in first seven months of this year

13:24 - 03 October 2023

Economy Reporter

Revenue from tourism recorded an increase of 26.9% for the period of January – July 2023, compared to the corresponding period of 2022, according to the results of the Passengers Survey carried out by CySTAT.

Tourism revenue for this period is estimated at €1,544.7m, compared to €1,217.4m for the same period in 2022.

Tourism revenue was up every month of this year, when compared to the same month of 2022.

Just in July 2023, revenue from tourism reached €454.6m in July 2023 compared to €381.7m in the corresponding month of the previous year, recording an increase of 19.1%.

Expenditure Analysis

The average expenditure per person was €867.96 in July 2023 compared to €839.50 in July 2022, recording an increase of 3.4%. The largest expenditure per capita was made by tourists from the Netherlands, with €1,165.20, while the smallest was made by tourists from Greece, with €380.56.

Tourists from the United Kingdom (the largest tourist market with 33.6% of total tourists in July 2023) spent on average €94.23 per day, while tourists from Israel (the second largest market during that month with 12.4% of the total tourists) spent on average €135.44.

Tourists from Poland (the third largest market with 5.5%), spent on average €78.66 per day.

The biggest daily expenditure was made by tourists from Lebanon, with €162.52, but their duration of stay in Cyprus was the shortest (5.8 days). On the contrary, tourists from Greece made the smallest daily expenditure, with €35.90, but had one of the longest average length of stay (10.6 days).

Total arrivals in July 2023 reached 523,718, compared to 454,657 in July 2022.

(Source: CNA)

Revenue from tourism up 26.9% y-o-y in first seven months of this year

News Feed

Read More