Tourism revenue experienced a significant increase of 42.9% in February 2023, compared to the same month in 2022, according to the Cyprus’ Statistical Service.

The Service's Passenger Survey showed that tourism revenue reached €56.6 million in February, up from €39.6 million in February 2022. For the period of January to February 2023, tourism revenue is estimated to be €102.2 million, an increase of 50.7% compared to the corresponding period in 2022.

However, the average expenditure per person decreased by 13.6% in February 2023, dropping from €550,10 in February 2022 to €475,39.

The Cyprus’ Statistical Service also reported that the average daily expenditure for UK tourists, who made up 27.2% of the total number of tourists in February 2023, was €62.35. Israeli tourists, the second-largest market during that month (12.8% of total tourists), spent on average €103.51 per day. Tourists from Greece, the third-largest market (12.6%), spent on average €47.34 per day.

Cyprus has established itself as a desirable and cost-effective tourist destination, showcasing its competitiveness and attracting more visitors every year. The number of tourists from various markets is increasing, indicating that 2023 will be a better year for Cyprus than even 2019. The island's many advantages, such as hospitable locals, quality service, entertainment, delectable cuisine, short distances and warm seas, appeal to visitors from Europe and beyond.

Moreover, tourism is a critical component of Cyprus's economic stability and investments in the industry have helped to enhance the competitiveness of the Cypriot tourism product. Positive expectations for tourism this year are reflected in the high number of bookings and it is the responsibility of all stakeholders, including the deputy ministry, local authorities, hotels and other industry players, to ensure that the advantages of Cyprus as a top-tier tourist destination are highlighted. By doing so, the country can attract even more visitors and extend the tourist season, resulting in even greater benefits. As a result, ensuring the competitiveness of the tourism product is critical in order to meet the evolving needs of visitors.