Cyprus’s tourism sector registered growth in 2015, driven by the cheaper Euro which attracted key markets to the country. Outbound tourism in Cyprus declined to 1.1 million in 2015. The country’s sluggish economic growth and high unemployment rate were the reasons that could be attributed for such decline.
Inbound tourism in Cyprus registered growth during the historic period (2010–2015), with trips increasing from 2.2 million in 2010 to 2.7 million in 2015. The growth was largely driven by the Euro performance which helped to attract tourists from key countries such as the UK. Moreover, the country’s image as a safe tourism destination will also support growth over the forecast period (2016-2020), with the number of arrivals forecasted to reach to 3.4 million by 2020. Spending by foreign tourists grew from EUR2.3 billion (US$2.6 billion) in 2015, to EUR3.3 billion (US$3.8 billion) in 2020.
In 2016, the S7 Airlines launched a new airline company called Charlie Airlines. This new airline is expected to operate from Larnaca International Airport. Charlie Airlines is a joint venture between the S7 Airlines and other local investors
In September 2015, Cyprus Tourism Organization (CTO) Chairman, Angelos Loizou announced that by easing the visa process, the country aims to attract almost 400,000
Chinese tourists per year. According to CTO, the tourists from China will also boost the tourism growth in the capital city of Cyprus, Nicosia.
Canadean’s report — Travel and Tourism in Cyprus to 2020 — provides detailed information on the country’s tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.
What else does this report offer?
Historic and forecast tourist volumes covering the entire Cyprus’s Travel & Tourism sector
Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type – leisure and business travellers
Reasons To Buy
Make strategic business decisions using historic and forecast market data related to Cyprus’s Travel & Tourism sector
Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
Direct the promotional efforts on most promising markets by identifying the key source and destination countries