TOURISM

2021 tourism gives Cyprus €1.51 billion

2021 tourism gives Cyprus €1.51 billion

Revenue from tourism in Cyprus amounted to 1.51 billion euros in 2021 as the country’s tourist industry bounced back from the first pandemic year of 2020.

According to data released on Friday by the Statistical Service of Cyprus (Cystat), tourism revenue in 2021 came to €1,513.6 million, compared with just €392 million in 2020 and €2,683 million in 2019, a record-year.

Tourism revenue for the period of January-December 2021 jumped by 286% compared with the respective period of the year before that, marking a reduction of 43.6% compared with the revenue of 2019.

However, the annual change in tourism revenue in 2021 from 2019 was lower that the corresponding rate of tourist arrivals, which came to 51.3%.

In December, tourism revenue amounted to €54 million compared to €9.1 million in December 2020 and were broadly unchanged compared with December 2019 (€54.6 million), Cystat said.

Meanwhile, the 12th post-program surveillance meetings between the Cypriot authorities and Cyprus’ creditors – the European Commission, the European Central Bank and the International Monetary Fund – began on Friday.