During the first four months of the year, tourism revenue reached €418 million, marking a significant increase of 30% compared to the same period last year and 11.30% compared to 2019, a year that set a historical record for Cypriot tourism.

According to the recently published Travel Survey by the Statistical Service, April witnessed tourism revenue amounting to €217.6 million, showcasing a notable surge of 17.6% compared to the previous year's April. Moreover, in comparison to April 2019, there was a substantial rise of 16.6%.

During April 2023, per capita tourist expenditure amounted to €634.89, showing a slight decrease of 0.7% in comparison to the expenditure in April 2022. Additionally, the average duration of a visitor's stay was recorded at 7.9 days, compared to 8.7 days in April 2022.

The Statistical Service reveals that Israeli tourists, who accounted for 9.9% of the total tourist market during April, had the highest daily expenditure, with an average of €120.23. Following closely were British tourists, comprising the largest tourist market in April 2023 with 36.3% of the total, spending an average of €79.51 per day. Polish tourists, representing the third-largest market at 6.7%, spent €77.67 per day. It is noteworthy that these figures indicate an 8.7% increase in comparison to the previous year.

Meanwhile, the Retail Turnover Value Index experienced a significant 8.7% annual increase in May, while the Volume Index of Retail Trade witnessed a more moderate growth of 6.1%. These figures reflect the ongoing impact of high prices on the retail sector.

Examining the data provided by the Statistical Service for the January-May period, the Value Index of Business Activity displayed a noteworthy 12.1% annual increase, while the corresponding Volume Index of Business Activity demonstrated a slightly lower growth of 7.6%.

It is important to highlight that among the various economic activities contributing to the Value Index of Business Activity, only the retail sale of automotive fuels in specialized stores experienced a considerable 12.6% increase. Conversely, a decrease was observed during the January-May period.