Holidays remain a luxury for many people in Cyprus and across the EU, as shown by the latest Eurostat data for July.

In the EU, the price of domestic holiday packages increased by 11.1%, while international holiday packages saw a 5.7% rise.

The cost of organized holidays has been rising across the EU since August 2021. The annual growth rate exceeded 10% in most months throughout 2022 and 2023. Notably, domestic organized holidays experienced a price surge in 2023, with the annual growth rate surpassing 20% for seven months during the year.

In July 2024, most EU countries reported a positive annual inflation rate for organized holidays sold domestically.

The highest increases were recorded in France (+22.2% compared to July 2023), Italy (+19.5%), and Cyprus (+16.7%).

In contrast, three EU countries reported a negative inflation rate for holiday packages: Malta (-2.9%), Finland (-2.7%), and Denmark (-0.2%).

Tourism revenue for the period from January to June 2024 amounted to €1.13 billion, marking a 4.2% increase compared to the same period last year.

According to the Traveler Survey results, tourism revenue in June 2024 reached €385.2 million, compared to €361.5 million in the same month of the previous year, showing a 6.6% increase.

Per capita tourist spending in June 2024 was €798.77, compared to €791.03 in June 2023, reflecting a 1.0% increase.

British tourists (the largest tourist market, accounting for 35.6% of total tourists in June 2024) spent an average of €94.66 per day, while Israeli tourists (the second largest market, with 10.7% of the total) spent an average of €146.16 per day.

Tourists from Poland (the third-largest market, with 7.5%) spent €78.00 per day.

According to the Statistical Service, the average length of stay in June remained unchanged at 8.5 days.