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British Female Travelers Catalyze Growth In European Tourism: Cyprus Leads With £793 Average Spend Per Visit

Study Overview

A study by Solo Female Travelers shows increased spending by British female tourists visiting Cyprus. Average spending reached £793 per trip in 2024, up from £632 in 2023. The data indicate higher per-visit expenditure among this group.

Key Findings And Market Dynamics

Spending by female visitors to Cyprus increased by 25.41% year-on-year, based on data from the UK Office for National Statistics across 27 European destinations. Cyprus ranks fifth in growth and fourth in a composite index measuring spending share and gender gaps. Women account for 49.66% of tourism spending in Cyprus. Male visitors spend an average of £862 per trip, placing Cyprus sixth in Europe by absolute spending levels.

Comparative European Trends

Among 23 countries with year-on-year data, 19 recorded increases in female spending per visit. Austria reported the highest growth, rising from £243 to £500, an increase of 105.56%. Belgium and the Czech Republic also recorded notable increases. Denmark reported the highest average female spending per visit at £952.

Implications For The Tourism Sector

Rising spending among female travelers is reflected across multiple European markets, including Germany, Ireland, and Poland. Greece records the highest female spending share at 51.36%. Tourism demand patterns show increased contribution from female travelers across regions.

Expert Analysis

Mar Pages, Co-Founder of Solo Female Travelers, said data show increased participation and spending by female travelers across Europe. She noted that changes in spending patterns are observed across multiple markets.

Conclusion

Cyprus records increased spending by female tourists, particularly from the United Kingdom. Data show continued growth in this segment across European destinations.

Cyprus Banks Urged To Focus On Long-Term Resilience As Profits Remain Strong

The Cypriot banking sector remains in a strong position, supported by solid capital buffers and overall financial stability, according to speakers at the annual general meeting of the Association of Cyprus Banks. At the same time, government officials and regulators stressed that maintaining this position will require continued discipline and long-term planning.

A Strong Sector, But Not A Complacent One

Finance Minister Makis Keravnos used the meeting to highlight concerns over draft laws recently passed by parliament, which, according to the Ministry of Finance, the Central Bank and the Legal Service, may contain constitutional, legal and institutional issues. Those concerns, he noted, led to presidential referrals and remittals to the Supreme Court.

Keravnos also said the European Central Bank had been consulted on proposed measures concerning the suspension of foreclosures and the restructuring of loans and guarantees, adding that the ECB had expressed its own concerns.

Profitability Should Reflect Real Economy Lending

While acknowledging that the banking sector remains highly profitable, Keravnos said earnings are expected to reach around €1 billion in 2025, lower than in 2024 as interest-rate conditions gradually normalize.

He said he would prefer bank profitability to rely more on lending to businesses operating in productive sectors and less on the widening of European Central Bank interest-rate spreads.

According to the minister, Cyprus’ return to investment-grade status after 11 years has strengthened the country’s appeal to foreign investors, technology companies and startups. He said this should encourage banks to offer financing that better supports businesses while improving the diversification of their loan portfolios.

The Central Bank’s Warning: Strength Today Is Not A Guarantee Tomorrow

Central Bank Governor Christodoulos Patsalides also warned against complacency, saying the sector’s current strength should not be taken for granted.

“The Cypriot banking sector is strong today. But strength that truly matters is not exhausted by a capital ratio, a profit line or a favorable cycle,” he said.

Patsalides added that lasting resilience depends on institutions remaining strong as conditions change, risks become more complex, and competition evolves. In his view, that requires sufficient capital buffers, adaptable infrastructure and management teams prepared for changing market conditions.

Long-Term Resilience Over Short-Term Gains

Patsalides also stressed that banks should focus on long-term resilience rather than short-term performance. Decisions on dividend policy, capital allocation and the use of resources, he said, should take into account continued investment in technology, operational resilience, human capital and long-term adaptability.

He added that banks able to remain competitive over time will be those that invest early in strengthening their capacity to adapt and respond to future challenges.

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