Cyprus tourism revenue near 2019 levels despite fewer arrivals

Cyprus’ tourism revenue for the period between January and October 2022 reached 90 per cent of those recorded in 2019, despite arrivals reaching 80 per cent of those recorded during that year, according to a report released on Friday by the Cyprus Statistical Service (Cystat).

According to the report, during the first 10 months of 2022, tourism revenue amounted to €2.28 billion, compared to €2.53 billion in 2019, which is considered a record year in tourism, while revenues have exceeded those of both 2021 and 2020, with €1.35 billion and €376.3 million respectively.

It should be noted, however, that the suppressed figures for 2020 and 2021 are due to the severe restrictions imposed during the peak of the Covid-19 outbreak.

What is more, arrivals between January and October 2022 reached 2.94 million passengers, compared to 3.69 million in the same period of 2019.

Based on the results of the Travelers Survey, conducted by the Statistical Service, the income from tourism reached €319.8 million in October 2022, compared to €310.2 million recorded in October 2021, marking an increase of 3.1 per cent.

Compared to October 2019, when revenues reached €299.4m in 2019, October 2022 saw an increase of 6.8 per cent, even though arrivals were down 8.2 per cent.