Cyprus’ tourism sector saw a significant revenue boost in 2024, with total earnings reaching €3.12 billion in the first 11 months, surpassing full-year 2023 revenues of €2.99 billion. According to data from the Cyprus Statistical Service, this marks a €206 million increase (7.1%) compared to the same period in 2023, reflecting strong visitor spending and a thriving travel industry.
Record-Breaking Growth In November 2024
November emerged as a standout month, posting the largest annual revenue increase of the year. Tourism revenue for the month soared to €138.7 million, a 22% rise from €113.7 million in November 2023.
Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram
The average spending per visitor also climbed, reaching €771.02 in November 2024—an 8.2% increase from €712.63 in the previous year.
Top Tourist Markets And Spending Trends
The United Kingdom remained Cyprus’ largest source of visitors, accounting for 25.9% of all tourists in November 2024, with an average daily spend of €80.58.
- Polish tourists (11.3% of total arrivals) had an average daily expenditure of €88.80.
- Israeli visitors (10.5%) were the highest spenders, averaging €139.80 per day.
Outlook For The Tourism Sector
The robust growth in tourist spending and arrivals underscores Cyprus’ strong appeal as a travel destination, despite global economic uncertainties. With 2024 revenues already exceeding 2023’s full-year figures, the country’s tourism industry is on track for another record-breaking year.