Loss of Thousands of Holidaymakers Leaves Cyprus Hotels Empty in €35.5 Million Crisis
Cyprus’ tourism industry is panicking over a massive drop in visitor numbers, with 30,000 holidaymakers reportedly leaving the country.
The latter also counts the cost of the crisis at €35.5 million, with Cyprus Hoteliers Association president Thanos Michaelides revealing that the tourism sector is set to lose thousands of visitors, Schengen.
A drop in hotel bookings was first noticed in May this year, with industry experts warning that the year could see a drop in revenue for businesses that depend on tourism.
The industry has also faced a significant labor shortage, although approximately 53,000 people are employed in the hospitality sector, which makes up 11 per cent of Cyprus’s workforce.
However, Michaelides said there are many other challenges to face this year, which could lead to fewer hotel bookings compared to 2023.
According to him, these include the ongoing crisis in the Middle East, tensions between Russia and Ukraine, a sluggish United Kingdom economy, the early occurrence of Catholic Easter in March, and a reduction in flights resulting in around 150,000 fewer tourist arrivals.
As the Deputy Minister of Tourism Kostas Koumis revealed in May 2024, tourist arrivals for the first four months of 2024 showed that the island could achieve its goals for the year. Arrivals statistics for January-April showed a 1.7 per cent increase compared to 2023.
Meanwhile, until June of this year, arrivals in Cyprus increased by 2.4 per cent annually and exceeded 1.65 million. In the first month of summer, arrivals increased by 5.5 per cent compared to June 2023.
Based on previous data from the Cyprus Statistical Service, the country registered a total of 3,722,022 tourists in the first 11 months of 2023, an increase of 20.4 per cent compared to the 2022 figures. During that period, the country received 3,091,039 travelers.
The figures from the same source further show that the numbers are approaching the annual record recorded before the pandemic, which was 3,976,777.
Cyprus Statistical Service also pointed out that in November of last year, 159,606 travelers visited Cyprus, an increase of 6.5 per cent compared to November 2022’s statistics. During the same month, 149,857 arrivals were recorded.
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