Tourism revenue increases by 15% in February

In February, there was a positive increase in tourism earnings, following a seasonal decline in January.

According to new statistics released by the Statistical Service of Cyprus (CyStat), tourism income in February 2024 reached €65.1 million, a significant increase of 15% over the €56.6 million recorded in the same month the previous year.

When looking at the larger picture from January to February 2024, tourist income increased steadily by 7.9% year over year to an expected €110.3 million from €102.2 million in 2023.

According to data from CyStat, the average spending per person in February 2024 was €521.01, a notable increase from €475.39 in February 2023—a 9.6% increase.

When spending habits were broken down by nationality, it was found that visitors from the United Kingdom, who accounted for the greatest market share in February 2024 (24.6%), spent an average of €63.37 daily. Poland, the second-largest market with a 13.3% share, sent tourists spending an average of €69.87 a day. Notably, with an average daily expenditure of €113.36, visitors from Israel led the statistics, accounting for 10.6% of the entire market.

The historic record-breaking tourism earnings of about €3 billion last year was emphasised by the Deputy Ministry for Tourism. This was a respectable 18.4% gain after accounting for inflation, and a significant nominal increase of 22.6% over the previous year.