Despite war, 2024 tourism to remain steady

Despite the challenges posed by the ongoing conflict in Gaza and in Ukraine, the number of foreign tourists expected to visit Cyprus in 2024 will be very similar to 2023, if not higher, according to the president of the Hoteliers Association (Pasyxe) Thanos Michaelides.

Speaking to the Cyprus Mail on Monday, Michaelides, however, said that all predictions are based on scenarios that can change very rapidly.

“Israel is at the moment the second most important market for Cyprus behind the UK,” he said.

“That means that we cannot really predict the number of Israeli visitors to Cyprus this year due to the current geopolitical situation.”

That said, he expects good numbers from all other European markets, as the numbers of visitors from countries such as France, Germany, Sweden and Poland have increased in 2023.

Michaelides also added that arrivals from Russia are also still in doubt for 2024, due to the current sanctions imposed on the country by the EU.

“As long as the sanctions remain in place, there will not be any change to the situation regarding the Russian market,” he said.

Despite the void left by the Russian market, Cyprus managed to reach and even surpass the arrival levels of 2019. Notably, the revenue for 2023 exceeded the figures recorded in 2019 and managed to absorb the 25 per cent loss in arrivals from Russia and Ukraine.

According to data from the Statistical Service, tourist arrivals from January to November 2023 reached 3,722,022, showing a 20.4 per cent increase compared to the same period in 2022. The revenue for January to October 2023 amounted to €2.8 billion, a 22.6 per cent increase from the corresponding period in 2022.

In the past days, Michaelides said that the heightened cost of flight insurance remains a crucial consideration for airlines, with clarity expected by February.

He also stressed the need for the Cypriot tourism industry to diversify markets and extend the tourist season. November 2023 saw exceptional performance, particularly in the Paphos district.

“The best-case scenario for 2024 is to replicate the success of 2023. Losses from Israel are expected to be compensated by gains from other markets,” Michaelides said.