According to new research from Phocuswright, the global travel market is forecasted to grow between 6-10 percent per year through 2026.  The industry has now exceeded pre-pandemic levels, recording a 24 percent jump in gross bookings in 2023, and a total spend of USD1.5 trillion.

Based on the results of the Passengers Survey carried out by the Statistical Service, Cyprus revenue from tourism reached EUR385,2 million in June of this year compared to EUR361,5 million in the corresponding month of 2023, recording an increase of 6,6 percent.

The movement of travellers to and from Cyprus in 2023 recorded an increase compared to 2022. Total arrivals of travellers reached 6.107.725 recording an increase of 26,4 percent and departures totalled 6.105.574, also recording an increase of 26,8 percent, compared to 2022. Air traffic represented 95,1 percent of arrivals and 95,2 percent of departures in 2023.

Travel and tourism sector witnessed 10.9 percent year-on-year (YoY) decline in the number of deals (mergers and acquisitions (M&A), private equity (PE) and venture financing) announced globally during January-May of this year.

Based on the results of the passenger’s survey carried out by the Statistical Service, revenue from tourism for Cyprus reached EUR65,1 million in February of this year compared to EUR56,6 million in the corresponding month of 2023, recording an increase of 15 percent.

The arrivals of tourists reached 333.563 in April of this year compared to 342.736 in April 2023, recording a decrease of 2,7 percent. For the period of January – April, arrivals of tourists totalled 748.814 compared to 736.629 in the corresponding period of 2023, recording an increase of 1,7 percent.

The World Travel & Tourism Council (WTTC) has recently announced that its Hotel Sustainability Basics (Basics) has achieved a significant milestone, with 3,400 properties now verified across almost 80 countries.

During 2023, guests spent 678.6 million nights in short-term rental accommodation in the EU booked via Airbnb, Booking, Expedia Group or TripAdvisor. This corresponds to a 13.8 percent increase compared with 2022 (596.5 million).

Based on the results of the passenger’s survey carried out by the Statistical Service, revenue from tourism in Cyprus reached EUR74,3 million in December 2023 compared to EUR57,6 million in the corresponding month of 2022, recording an increase of 29 percent.

Based on the results of the Passengers Survey carried out by the Statistical Service, revenue from tourism for Cyprus reached EUR113,7 million in November 2023 compared to EUR96,4 million in the corresponding month of 2022, recording an increase of 17,9 percent.