In the first half of 2024, Cyprus accomplished a fiscal surplus of €590.6 million, marking 1.9% of its GDP, a significant increase from the previous year. This achievement reflects the country’s economic resilience and prudent fiscal strategies amidst global challenges, showcasing its financial strength in uncertain times.
Cyprus’s tourism revenue hit a milestone in March 2024, reaching a recordbreaking €113 million, a 15.5% surge from the previous year, showcasing the island’s enduring charm as a top travel spot. This remarkable growth not only marks the highest March income in over two decades but also signals a robust economic upturn for Cyprus, fueled by its cultural richness, breathtaking landscapes, and inviting climate.
In a remarkable achievement for Cyprus, tourism revenue surged by 29% in December 2023, reaching €74.3 million compared to €57.6 million the previous year. This increase reflects a successful year for the country’s tourism sector, with an estimated revenue of €2.99 billion for the year, marking a 22.6% growth from 2022.
Cyprus’s tourism sector is set to achieve a recordbreaking year, with a 21% increase in visitor numbers compared to the previous year and anticipated unprecedented revenue. The country is actively working on strategic initiatives, such as improving infrastructure and tackling seasonality, to ensure sustainable tourism growth and enhance the visitor experience.
