Cyprus’s tourism revenue surged past 3 billion euros in the first 11 months of 2024, surpassing the entire previous year’s earnings and setting a new industry benchmark, the Statistical Service reported on Tuesday.
Tourism revenue reached 3.12 billion euros between January and November 2024, marking a 7.1 percent increase compared to the same period in 2023, when revenues stood at 2.91 billion euros.
Tourist arrivals for the full year 2024 reached 4,040,200, a 5.1 percent increase from 3,845,652 in 2023, establishing a new record for visitor numbers.
November 2024 showed particularly strong performance, with tourism revenue reaching 138.7 million euros, a remarkable 22 percent increase compared to 113.7 million euros in November 2023.
The data reveals significant growth in tourist spending, with average per capita expenditure in November 2024 rising to 771.02 euros, up 8.2 percent from 712.63 euros in the same month of 2023.
British tourists, representing the largest market share at 25.9 percent in November 2024, spent an average of 80.58 euros daily, up from 71.75 euros in November 2023. Polish visitors, the second-largest group at 11.3 percent, increased their daily spending to 88.80 euros from 81.20 euros.
Israeli tourists, comprising the third-largest market at 10.5 percent, nearly doubled their daily expenditure to 139.80 euros from 71.26 euros in November 2023, although their per capita spending decreased to 615.12 euros from 876.48 euros.
The latest figures demonstrate a remarkable recovery since 2021, when the industry was affected by COVID-19 restrictions, with revenue doubling from 1.5 billion euros in 2021 to over 3 billion euros in 2024.
