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Revenue from tourism up 15% in February

Revenue from tourism returned to growth in February, following the annual reduction shown in the previous month.

According to CyStat’s Passengers Survey, tourism revenue amounted to €65.1m in February 2024 compared to €56.6m in the corresponding month of the previous year, recording an increase of 15%.

For the period of January – February 2024, revenue from tourism is estimated at €110.3m compared to €102.2m in the corresponding period of 2023, up by 7.9% year on year.

The average expenditure per person was €521.01 in February 2024 compared to €475.39 in February 2023, recording an increase of 9.6%.

Tourists from the United Kingdom (the largest tourist market with 24.6% of the total tourists in February 2024) spent on average €63.37 per day, while tourists from Poland (the second largest market during the specific month with 13.3% of the total tourists) spent on average €69.87.

Tourists from Israel (the third largest market with 10.6%), spent on average €113.36 per day.

According to the Deputy Ministry for Tourism last year revenue from tourism marked a new historic record approaching €3 billion, marking a nominal annual increase of 22.6% and 18.4% net of inflation.

(Source: CNA)

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