Cypriot residents' travel spending hits €2.23 billion in 2023

Total travel spending by Cypriot residents, both within Cyprus and abroad, reached €2.23 billion in 2023, marking an 8.4% increase from 2022, according to Cyprus’ Statistical Service. About 484,365 residents took at least one overnight trip, compared to 446,633 in 2022.

The number of domestic trips decreased by 7.4% in 2023, totaling 1,564,359, down from 1,689,154 in 2022. Of these, 98.1% were for personal reasons, such as leisure, family visits, health-related travel, or pilgrimages, while only 1.9% were for business.

Hotel-like accommodations, including campsites and hostels, were the preferred stay for 54.2% of domestic trips, while 45.8% stayed in non-rental properties, such as owned homes or family residences.

Trips abroad soared by 35.6% in 2023, with Cypriots taking 1,674,725 trips compared to 1,234,615 in 2022. Around 85.7% of these trips were for personal purposes, and 14.3% for professional obligations. Rental accommodations, such as hotels, accounted for 70% of these international stays, while non-rental options made up 30%.

Cypriots spent €292.9 million on domestic trips in 2023, a 9.9% increase from the previous year. Dining and drinks made up the largest share of this spending at 40.1%, followed by accommodation at 35.4%, transportation at 10.1%, and other expenses at 14.4%.

For international travel, expenditures reached €1.94 billion, up 39.1% from 2022. The highest share went to transportation, at 35.7%, while accommodations, dining, and other costs comprised 24%, 23.1%, and 17.2%, respectively.

The report clarifies that "residents" are those living in Cyprus for at least 12 months or intending to do so. Additionally, the data reflects the total number of trips rather than individual travelers, meaning some residents may have traveled multiple times within the reporting period.