Despite ongoing geopolitical tensions in the Middle East, Cyprus continues to attract tourists, maintaining a steady flow of visitors and strong spending patterns. According to a report by Apostolos Tomaras from Kathimerini, the summer season of 2024 has seen a slight increase in tourist arrivals compared to the previous year, signaling resilience in the island’s tourism sector.
Tourism Stability and Optimism
Tourism professionals in Cyprus remain hopeful that 2024 will match or even surpass the performance of 2023. This confidence is backed by stable or improving metrics across the board. While there were initial concerns about the potential impact of the Middle East crisis on tourism, travelers have adjusted their plans accordingly, noted Haris Papacharalambous, president of the travel agents’ association. However, there is a degree of caution among hoteliers about the possible future effects if the situation in the region worsens.
Air Traffic Growth
Air travel to Cyprus has seen a 1.45% increase in passenger arrivals compared to the same period in 2023. The island continues to be viewed as a safe transit hub, with a 2.8% rise in flights year-over-year. The main source markets— the United Kingdom, Greece, Poland, Israel, and Germany—have collectively seen a 4.42% increase in passengers from January to July 2024.
Accommodation and Bookings
Tourist accommodations in Cyprus for August are nearly at full capacity. Protaras leads with a 99% occupancy rate, followed closely by Ayia Napa, Paphos, and Larnaca at 98%, Kakopetria at 96%, and Limassol at 91%. Despite these high occupancy rates, the hospitality and entertainment sectors in Paphos remain cautiously optimistic, particularly regarding potential impacts from regional instability.
Revenue and Spending Trends
While revenue data for the peak summer months is still pending, early 2024 showed an 11% increase in tourism revenue compared to 2023. In May, per capita tourist spending was slightly down at €736.82, compared to €740.36 in May 2023. British tourists, who represent the largest share of the market, spent an average of €83.18 per day, while Israeli visitors, the second-largest group, spent €161.66 per day. Other notable spending figures included Austrians at €108.89, Belgians at €122.63, Swiss at €144.88, French at €104.09, and Germans at €112.42 per day.
In summary, Cyprus’ tourism sector is demonstrating significant resilience and adaptability in the face of regional challenges, with strong performance indicators suggesting a promising outlook for 2024.
Source: Kathimerini – Apostolos Tomaras