Cyprus tourism revenue hits €110.3 million in Q1 — per capita spending reaches €521.01

Cyprus’ tourism revenue surged by 15 per cent year-on-year in February 2024, marking a significant recovery following a slight 0.9 per cent dip in the first month of the year, according to a report released on Friday by the Cyprus Statistical Service (Cystat).

The report, which utilised data collected by the traveller survey, revealed that tourism revenue in February 2024 reached €65.1 million, compared to €56.6 million in the same month of the previous year.

Moreover, for the January-February 2024 period, tourism revenue totalled €110.3 million, compared to €102.2 million during the same period in 2023, reflecting a year-on-year increase of 7.9 per cent.

In addition, the report showed that per capita spending saw a rise in February, reaching €521.01 compared to €475.39 in February 2023, marking a 9.6 per cent increase.

Furthermore, according to the Statistical Service, British tourists, comprising 24.6 per cent of the total tourist arrivals in February 2024, spent an average of €63.37 per day.

Polish tourists, the second-largest market at 13.3 per cent of the total, spent an average of €69.87 per day.

Tourists from Israel, constituting the third-largest market at 10.6 per cent, spent €113.36 per day on average.

Meanwhile, in what can be perceived as a positive sign for the tourism industry, global passenger demand rose by 13.8 per cent in March of this year, according to a report by the International Air Transport Association (IATA).

When looking at passenger demand specifically for international flights, this was up 18.9 per cent compared to March 2023.

“Demand for travel is strong, and there is every indication that this should continue into the peak Northern Summer travel season,” IATA director general Willie Walsh, said.

“It is critical that we have the capacity to meet this demand and ensure a hassle-free travel experience for passengers. That means making urgent progress in order to resolve supply chain issues and for airports and air traffic management to be fully staffed and operating at maximum efficiency,” he added.

“While airlines are prepared for customer care and assistance when operational issues arise, they are fed up of bearing the cost when delays and cancellations are the result of poor preparation in other parts of the value chain,” Walsh concluded.