Cyprus bars and restaurants look to August after a disappointing summer

Restaurants and bars in Cyprus experienced occupancy rates ranging between 70 and 80 per cent in July, in another disappointing month for local business owners, according to Neophytos Thrasyvoulou, president of the association of entertainment venues on the island.

Thrasyvoulou stated that July did not meet the expectations of the hospitality businesses, as foot traffic was considerably reduced, with some areas experiencing a decrease of around 40 per cent.

Moreover, he explained that the number of visitors started to pick up towards the end of July, primarily from Cypriots and other local residents. The number of visitors is expected to increase further in August due to the summer holidays.

Thrasyvoulou also addressed the “lull in the market,” expressing optimism that August, with the higher quality of customers from central European countries, would reverse the current situation.

In addition, he made note of a recent meeting with the Deputy Minister of Tourism, during which he observed significant efforts to attract more tourists from the United Kingdom, which has been a longstanding supporter of Cyprus and the country’s primary tourism market.

“We are optimistic,” Thrasyvoulou said, noting that restaurant and bar owners are hopeful that September and October will fill the gaps left by the previous months.

In June of this year, Thrasyvoulou noted that hospitality venues experienced a decline in occupancy rates, with the drop in guests ranging from 25 per cent to 30 per cent in June.

At the time, Thrasyvoulou attributed the decrease in occupancy rates to the prevailing situation in all countries, marked by rapid inflation and accumulated economic problems, noting that “these circumstances could not leave Cyprus unaffected.”