Cyprus Tourist Arrivals Surge, Despite Loss of Russian Market

Cyprus Tourist Arrivals Surge, Despite Loss of Russian Market

Cyprus Residents Opting for Overseas Travel

In the span from January to August 2023, Cyprus witnessed a significant increase in tourist arrivals, with the figures reaching 2.65 million, a boost of 24.5% compared to the same period in 2022.

The Cyprus Statistical Service reported that although the number of tourists in August 2023 hit 511,387, it marked a slight dip of 2.3% from July of the same year. However, when pitted against August 2022, there was an encouraging rise of 13.4% in arrivals.

Interestingly, even without the contribution from the Russian market since 2022 due to the Ukraine conflict and subsequent sanctions against Russia, the 2023 arrivals were a commendable 97% of 2019 figures. 2019 remains a benchmark year for Cyprus tourism. Historically, Russia stood as the second largest source of tourists for Cyprus, following closely behind the UK.

In the breakdown for August 2023, the UK led the charge, contributing 35.9% (183,642) of the total tourist arrivals. Other significant contributors included Israel at 14.9% (76,130), Poland at 5.8% (29,495), Germany with 4.5% (23,178), and Sweden rounding off at 3.6% (18,218).

August 2023 also saw a rise in the number of Cyprus residents travelling abroad. A total of 199,920 residents ventured overseas, marking a 30.2% rise from the 153,563 reported in August 2022.

Greece emerged as the favorite destination, with 40.4% (80,713) of the total travelers. The UK and Italy trailed behind, pulling in 5.7% (11,329) and 5.3% (10,516) respectively. France and Russia also made the list with 3.7% (7,389) and 3.2% (6,490) respectively.

Minimal Changes in Construction Material Prices

In addition, CyStat shed light on the minimal fluctuations in construction material prices for August 2023. The Price Index of Construction Materials for the said month stood at 134.91 units, revealing a minor dip of 0.08% from July 2023. Year-on-year comparison showed a subtle rise of 0.43% from August 2022.

Drilling down into the data, some specific categories like minerals surged by 15.07% and mineral products by 6.68%. Other increases were noted in products of wood, insulation materials, chemicals, plastics (2.26%), and electromechanical products (1.13%). However, metallic products' prices declined by 9.52%.