Tourism revenue in Cyprus has seen a significant increase of 25% in 2023 compared to the previous year, indicating the potential for a new revenue record, as stated by Deputy Minister of Tourism, Kostas Koumis. This announcement followed a meeting between the Board of Directors of the Cyprus Hotel Association (CHA) and President Nikos Christodoulides at the Presidential Palace today.

Also present at the meeting was Yiannis Panayiotou, Minister of Labour and Social Insurance. The primary focus of the discussion was the challenge of staffing shortages in the hotel industry.

Post-meeting, the Deputy Minister expressed that this was the second meeting within two months with the CHA. He highlighted that key topics such as human resource issues, improving Cyprus' air connectivity, and efforts to extend the tourist season were discussed.

Koumis characterized 2023 as a "very good year" for tourism, with a notable increase of 21% in arrivals compared to 2022. He emphasized the significant 25% increase in revenue, expressing optimism for a new record high, which he noted is crucial for the country's economy.

Thanos Michaelides, Chairman of the CHA, described the meeting as "fruitful." He emphasized that the industry's most pressing issue is the scarcity of human resources, a challenge shared with other Mediterranean destinations. With positive market signals for 2024, he stressed the urgency of finding timely solutions. Michaelides warned of potential staff shortages if competitors absorb available workers due to delays in addressing the issue.

Regarding hotel occupancy rates during the Christmas holiday season, Michaelides mentioned that current rates are around 40% and are expected to possibly rise to 50% during Christmas week.