Tourism revenue in first 11 months of 2023 surpasses 2019 record

08:26 - 01 February 2024

Economy Reporter

Revenue from tourism for the period of January – November edged close to €3 billion, surpassing the historic record for the full year of 2019 (2.68 billion), data released by CySTAT show.

According to CySTAT, revenue from tourism for the eleven months of 2023 amounted to €2.91 billion, marking an increase of 22.5% year on year.

Compared to the full year of 2019, Cyprus’ historic record, the tourist revenue marked an increase of 8.6%.

In November 2023 tourism revenue reached €113.7 mn compared to €96.4 million in the corresponding month of the previous year, recording an increase of 17.9%.

According to CySTAT, the average expenditure per person was €712.63 in November 2023 compared to €643.38 in November 2022, recording an increase of 10.8%.

Tourists from the United Kingdom - the largest tourist market with 26.8% of the total tourists in November 2023 - spent on average €71.75 per day, while tourists from Poland (the second largest market during the specific month with 11.8% of the total tourists) spent on average €81.20.

Tourists from Germany, the third largest market with 10%, spent on average €103.24 per day, CySTAT added.

(Source: CNA)

Tourism revenue in first 11 months of 2023 surpasses 2019 record

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