2024: A Year Of Booming Growth In Cyprus’ Service Sector

by News Editor

March 6, 2025

According to recent data from Cystat, Cyprus witnessed remarkable growth in its Service Turnover Index during 2024. The year-on-year increase is most notable in the final quarter, showcasing a resurgent economic trend.

Annual Turnover Highlights

The period from January to December saw notable increases across various industries. Administrative and support services led with an impressive 8.9% growth, closely followed by accommodation and food services at 8.2%. Tourism’s Record Earnings are reflective of such growth. Additionally, information and communication technologies rose by 8.0%, while real estate activities marked a 6.5% increase, underlining the island’s diverse economic sphere.

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Fourth Quarter Surge

During the fourth quarter, accommodation and food services again took the lead with a 8.9% hike. Not far behind were administrative and support activities with 7.0%, and ICT at 6.5%. Real estate management and professional services also showed solid growth at 5.0% and 3.7% respectively.

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Cyprus Records 3.1M Guest Nights In Q3 2025

by THEFUTURE.TEAM

April 2, 2026

Cyprus recorded 3.1 million guest nights in short-term rental accommodation in the third quarter of 2025, according to Eurostat. The data reflect bookings made through online platforms.

Record Performance In Q3 2025

Between July and September 2025, guest nights reached 3,104,502 across platforms, including Airbnb, Booking.com, and Expedia. The volume highlights the role of digital booking platforms in Cyprus’s tourism sector.

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Continental Trends Bolstering Digital Tourism

Across the EU, short-term rental activity also increased. In the fourth quarter of 2025, total guest nights reached 172.30 million, up 10.90% compared to the same period in 2024 and 30.20% higher than in 2023. For the full year, online platforms accounted for 951.60 million nights in 2025, representing an increase of 11.40% year on year and 32.40% compared to 2023.

Regional Destinations And Competitive Dynamics

Tourism activity remains concentrated in southern European regions. Croatia’s Jadranska Hrvatska recorded 27.70 million guest nights, followed by Spain’s Andalucia with 19.50 million and France’s Provence-Alpes-Côte d’Azur with 16.90 million. Cyprus is not among the top 20 EU regions by volume, though its figures remain notable relative to its size.

Economic Implications And Forward Outlook

Tourism continues to play a key role in Cyprus’s economy, with online platforms accounting for a growing share of bookings. Eurostat data indicate continued expansion in digital tourism, with implications for policy planning and investment across the sector.

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