Deputy Minister describes 2024 as a reference year for tourism

Deputy Minister for Tourism Kostas Koumis has said that 2024 is a reference year for tourism, following the record numbers in arrivals and revenue.

Koumis, who made a statement following figures on September profits released by CySTAT, said that he was quite pleased, adding that numbers show that the tourist sector has recovered and records high numbers as it did in the past.

Koumis also noted that there is no reduction in the average per capita expenditure and added that we are looking to 2025 with optimism.

He said that emphasis is placed on investing in the countryside, protecting the environment and producing benefits for local communities.

According to a press release issued by the Deputy Ministry, tourism revenues for the period January – September 2024 recorded an increase of 31.1%, compared to the corresponding period in 2022 and 15.3% compared to 2019.

It added that numbers confirm the success of the decisions taken in relation to the target markets, as well as the resilience of the sector.

Arrivals for January – October, which were published a few days ago, record an increase of 4.6%, compared to 2023, an increase of 26.7% compared to the corresponding period in 2022 and an increase of 0.8% compared to 2019.

Tourism revenue in September 2024 recorded a 6% increase, compared to September last year. For the first nine months of 2024 an increase of 4.9% was also recorded, compared to the same period in 2023.

Based on the results of the Passengers Survey carried out by the Statistical Service, revenue from tourism reached €454.1m in September 2024, recording an increase of 6% as compared to the corresponding month of the previous year (€428.4m).

For the period of January – September 2024, revenue from tourism is estimated at €2,575.9m compared to €2,456.1m in the corresponding period of 2023, recording an increase of 4.9%.

Expenditure Analysis

The average expenditure per person was €891.29 in September 2024 compared to €879.13 in September 2023, recording an increase of 1.4%.

Tourists from the United Kingdom, the largest tourist market with 35.5% of the total tourists in September 2024, spent on average €112.35 per day, while tourists from Israel, the second largest market during the specific month with a share of 10.7% of the total, spent on average €150.63. Tourists from Poland, the third largest market with an 8.3% share, spent on average €88.96 per day. 

(Source: CNA)