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.

Global travel and tourism sector witnessed the announcement of a total of 723 deals i.e. mergers and acquisitions (M&A), private equity (PE), and venture capital (VC)) during 2023, a decline of 31.9 percent compared to the 1,062 deals announced during 2022, according to GlobalData, a leading data and analytics company.

In 2022, at the EU level, 34 percent of all tourism nights spent occurred in just two months, July and August. In nearly three of four EU regions at level two of the nomenclature of territorial units for statistics (NUTS 2), August was the month with the highest concentration in the number of nights spent (170 out of the 242 EU NUTS two regions). It was followed by July in 62 EU regions, covering most of Northern Europe and parts of Belgium, Czechia, Germany, France, Italy, Hungary and Slovakia. 

The global travel and tourism industry experienced a notable decline in deal activity during January-August of this year, marking a substantial year-on-year (YoY) decrease of 36.2 percent compared to the same period in 2022.

Based on the results of the Passenger Survey carried out by the Statistical Service, revenue from tourism in Cyprus reached EUR97,8 million in March 2023 compared to EUR69,1 million in the corresponding month of the previous year, recording an increase of 41,5 percent.

The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) recently shows the travel and tourism sector is closing in on its 2019 peak, recovering by more than 95 percent.

In 2019, the last year before the COVID-19 pandemic heavily hit the tourism sector, the gross value added directly generated by tourism amounted to an estimated EUR572 billion, or five percent of the total gross value added in the EU economy.