Cyprus Business Now

Revenues from tourism in the first month of 2022 exceeded €28 million, with the rate of decline in revenue compared to the pre-pandemic era, meaning January 2020, remaining lower than the corresponding rate of decline in arrivals.

According to the results of the Traveler Survey, conducted by the Cyprus Statistical Service (Cystat), revenues from tourism in January 2022 reached €28.2 million.

The same figure stood at €2.8 million in January 2021 and €40.2 million in January 2020.

In addition, tourist arrivals in January 2022 amounted to 43,944 travellers, compared to the 3,889 visitors recorded in January 2021, while the same figure stood at 85,622 in January 2020.

Based on the data, the rate of decrease in tourism revenues in January 2022, compared to January 2020, was 30 per cent, while the corresponding decrease in arrivals was 49 per cent.

The Industrial Turnover Index recorded an increase of 27.6 per cent year-on-year in January 2022, reaching 147.6 units (base 2015=100), according to a report by the Cyprus Statistical Service (Cystat).

In manufacturing, the Industrial Turnover Index for January 2022 reached 138.7 units, recording an increase of 20 per cent compared to January 2021.

Increases were also observed in the sectors of electricity supply (+60 per cent) and water supply and materials recovery (+54.4 per cent).

Meanwhile, the mining and quarrying sector contracted by 9.1 per cent year-on-year.

The General Index increased by 13.5 per cent year-on-year in the period between January and December 2021.

During this time, mining and quarrying increased by 16.3 per cent, manufacturing by 11.3 per cent, electricity supply by 19.2 per cent, while water supply and materials recovery rose by 43.2 per cent.

The Cyprus Stock Exchange (CSE) ended Wednesday, April 6 with losses.

The main Cyprus Stock Market Index was at 66.90 points at 13:01 during the day, reflecting a drop of 0.37 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 40.21 points, which represents a decrease of 0.37 per cent.

The total value of transactions came up to €86,368.

In terms of the sub-indexes, the alternative index rose by 1.15 per cent, while the main and investment firm indexes fell by 1.39 per cent and 3.76 per cent respectively. The hotel index remained stable.

The biggest investment interest was attracted by Vassiliko Cement Works (no change), the Cyprus Cement Company (+6.09 per cent), the Bank of Cyprus (-0.84 per cent), Keo (+0.78 per cent), and Salamis Tours (+0.52 per cent).