Cyprus sees extraordinary rise in tourism revenues so far this year

By in

The Cyprus Tourism Organisation (CTO) shared figures last week which showed the aggregate total profits for Q1 and Q2 in Cyprus have now reached a record of almost €1 billion. The CTO remarked that the increase in revenue specifically in the month of June amounted to a rise of 15% and profits of €346 million during the same period in the previous year, which was “extraordinary”.

The average spending from nearly all markets during the Q1-Q2 period had also seen a significant increase, either due to augmented daily expenditure of locals, but also could be attributed to an increase in the length of stay of the tourist holidays.