Tourism revenue lowest level since 2009

Cyprus tourism revenues in 2021 were the lowest recorded in over a decade, excluding 2020 when essentially the travel industry was on COVID-19 travel lockdown throughout the year.

Revenue from tourists reached EUR 1.51 bln in 2021 as the tourism industry followed a recovery path following the COVID-19 pandemic in 2020.

However, excluding 2020, last year recorded the lowest revenue since 2009 when the island generated revenue of EUR 1.49 mln.

According to data released by the Cyprus Statistical Service, revenue from tourism was EUR 1.51 bln, compared with just EUR 392 mln for 2020 and a record EUR 2.68 bln in 2019.

Tourist revenue for January – December 2021 jumped 286% from the year before, marking a reduction of 43.6% compared with 2019.

Pre-coronavirus 2019 was also a recordyear for the Cypriot tourism industry which saw 3.96 million tourists arrive on the island.

In 2021, 1,936,931 tourists arrived compared to 631,609 in 2020, recording an 206.7% increase and a 51.3% decreased compared to 2019 (3,976,777 arrivals).

Tourism stakeholders were hoping for a better 2022, but the war in Ukraine and sanctions on Russia have dashed hopes for this summer.

Cyprus expected 800,000 tourists from Ukraine and Russia this year, about 20% of expected traffic.

Authorities have launched a campaign to make up for losses from Russia and Ukraine from other markets.