Cyprus surpassed other European countries like Croatia, Bulgaria, and Slovenia in short-term rental growth during 2024, according to Eurostat.
The EU’s statistical office reported this week that short-term bookings in Cyprus jumped to 759,315 in September 2024, up from 642,601 the previous year.
From January to September 2024, Cyprus recorded a total of 4,8 million nights spent in short-stay accommodation, up from 4,16 million during the corresponding period last year.
These figures stem from guest bookings through popular platforms such as Airbnb, Booking.com, Expedia Group, and Tripadvisor.
The peak of the travel season was August 2024, where Cyprus saw 939,859 overnight stays, an increase from 800,357 in August 2023.
Despite this growth, Cyprus’ performance was still below the average growth rate for EU member states in terms of overnight stays during the same month.
The year started with the lowest number of stays recorded in January 2024, at 200,208, up from 165,684 in January 2023.
On a broader scale, the European Union witnessed a robust growth in short-term rental stays.
The third quarter of 2024 alone saw visitors spending 366.2 million nights in such accommodations, an increase of 18 per cent compared with the same period in 2023.
The busiest month for EU tourism was August, with a 21.6 per cent increase in overnight stays, followed by increases of 16.4 per cent in July and 14 per cent in September.
Malta experienced the largest growth, with overnight stays soaring by 41.4 per cent compared to August 2023, with Germany and France also seeing significant rises of 32.7 per cent and 29.9 per cent, respectively.
Conversely, the smallest increases were observed in Croatia (9.7 per cent), Bulgaria (12.2 per cent), and Slovenia (13.6 per cent).