Travel And Tourism in Cyprus

Euromonitor International's Travel And Tourism in Cyprus report offers a comprehensive guide to the market at a national level. It looks at travel accommodation, transportation, car rental, tourist attractions and retail travel. It identifies the leading companies and offers strategic analysis of key factors influencing the market, including background information on disposable income, annual leave and holiday taking habits.

Buy online to access strategic market analysis and an interactive statistical database of market size data for travel accommodation, transportation, car rental, travel retail, tourism attractions and health and wellness tourism, tourism inflows and outflows, tourism spending and company and brand shares.

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Why buy this report

• Get insight into trends in market performance
• Pinpoint growth sectors and identify factors driving change
• Identify market and brand leaders and understand the competitive environment

Product coverage

Airline capacity and utilisation; Arrivals by country of origin; Arrivals by mode of transport; Arrivals by purpose of visit; Car rental services by sector; Demand factors; Departures by destination; Departures by mode of transport; Departures by purpose of visit; Domestic tourism by destination; Domestic tourism by mode of transport; Tourism receipts and expenditure; Tourist attractions; Transportation; Travel accommodation; Travel retail services

Executive summary

Tourism vital to the Cypriot economy

Cyprus is the third largest island in the Mediterranean with a surface area of 9,251 sq km and a location between Europe and Asia. The travel and tourism industry is vital to the Cypriot economy, accounting for 10.6% of GDP in 2006 according to WTTC. This is, however, a significant drop compared to the 21% contribution to GDP in 2001. Employment created by the travel and tourism industry was estimated at 57,000 jobs in 2006, representing 29.7% of total employment.

Cyprus seems to be a mature mass tourism destination, with tourist arrivals dropping by 8% between 2000 and 2005 and revenue from incoming tourism falling by 16% in the same period.

Arrivals increase slightly in 2005 but spending per tourist is still down

Cyprus saw a 5% increase in arrivals and a 2% increase in incoming tourism revenue in 2005 after a period of decline between 2001 (which was a record year for tourism) and 2003, and despite the bird flu threat. This was also the first time since 2001 that tourism revenue showed an increase, even though it was far from reaching tourism spending in 2001. However, spending per tourist continued to show a worrying downward trend.

The government thinks that diversification is the way forward

The objective of the Cypriot government is to diversify its tourist offer, moving away from its “sun and sea” tourist product towards a more sophisticated culture-based tourism development in order to attract tourists with higher spending power. Plans to revitalise the industry are being implemented in an effort to move on from the island’s traditional image. The Cyprus Tourism Organisation’s objectives will be pursued through a 7-year strategic plan aiming at strengthening Cypriot tourist services and at making the industry less subject to seasonality. Several new infrastructures are planned or under construction, such as golf courses, marinas, and the new convention centre at Limassol, the retraining of hotel and restaurant staff, and the strengthening of already flourishing aspects of Cypriot tourism, such as religious tourism, sports tourism, medical tourism and casinos.

Meanwhile domestic tourism comes to the rescue

The slowdown in foreign arrivals in 2001-2003 drew hoteliers’ attention towards the home market. The number of overnight stays by domestic tourists tripled between 1995 and 2005. Domestic tourism contributes to the filling of hotel beds during the winter period. Well known for their high spending, especially during their holidays, Cypriots have responded in great numbers to the special offers designed for them by hotel owners.

Many obstacles pave the way to success

In the years to come, travel and tourism will be the trigger for massive investments in Cyprus. The turnaround might take some time as it has not gotten the commitment of all involved parties. Moreover, overcharging is widespread on the island, which is something that will have to change in order to attract repeat business and move towards a higher quality offer. Cyprus’ efforts to diversify its tourist offer might well constitute a more difficult challenge for tourism professionals, requiring more skilled personnel. Moreover, although economic prospects seem favourable in the short term, political unrest in the region might be a hinder for future visitors.

Table of contents

EXECUTIVE SUMMARY

TOURISM VITAL TO THE CYPRIOT ECONOMY

ARRIVALS INCREASE SLIGHTLY IN 2005 BUT SPENDING PER TOURIST IS STILL DOWN

THE GOVERNMENT THINKS THAT DIVERSIFICATION IS THE WAY FORWARD

MEANWHILE DOMESTIC TOURISM COMES TO THE RESCUE

MANY OBSTACLES PAVE THE WAY TO SUCCESS

KEY TRENDS AND DEVELOPMENTS

TOURIST SPENDING DECREASES

Outlook

Impact

CYPRUS IS SEEKING TO DIVERSIFY ITS TOURIST PRODUCT

Outlook

Impact

DOMESTIC TOURISM IS BOOSTING HOTEL OCCUPANCY

Outlook

Impact

TRAVEL ACCOMMODATION

TRENDS

PROSPECTS

TRANSPORTATION

TRENDS

PROSPECTS

TRAVEL RETAIL

TRENDS

PROSPECTS

MARKET DATA

Table 1 Length of Trip: 2000-2005

Table 2 Arrivals by Country of Origin: 2000-2005

Table 3 Arrivals by Method of Transport: 2000-2005

Table 4 Arrivals by Purpose of Visit: 2000-2005

Table 5 Departures: 2000-2005

Table 6 Departures by Destination: 2000-2005

Table 7 Departures by Mode of Transport: 2000-2005

Table 8 Departures by Purpose of Visit: 2000-2005

Table 9 Domestic Trips by Mode of Transport: 2000-2005

Table 10 Incoming Tourist Receipts: 2000-2005

Table 11 Incoming Tourist Receipts % Growth: 2000-2005

Table 12 Outgoing Tourism Expenditure: 2000-2005

Table 13 Outgoing Tourism Expenditure % Growth: 2000-2005

Table 14 Domestic Tourist Expenditure: 2000-2005

Table 15 Forecast Arrivals by Country of Origin: 2005-2010

Table 16 Forecast Arrivals by Method of Transport: 2005-2010

Table 17 Forecast Departures: 2005-2010

Table 18 Forecast Departures by Destination: 2005-2010

Table 19 Forecast Departures by Mode of Transport: 2005-2010

Table 20 Forecast Incoming Tourist Receipts: 2005-2010

Table 21 Forecast Domestic Tourist Expenditure: 2005-2010

Table 22 Forecast Outgoing Tourism Expenditure: 2005-2010

SECTOR DATA

Table 23 Hotels: Units 2000-2005

Table 24 Regional Hotel Parameters 2005

Table 25 Travel Accommodation Sales by Sector: Value 2000-2005

Table 26 Travel Accommodation Internet Sales: Internet Transaction Value 2000-2005

Table 27 Hotel Internet Sales: Internet Transaction Value 2000-2005

Table 28 Hotel Company Rankings 2005

Table 29 Forecast Hotels: Units 2005-2010

Table 30 Forecast Travel Accommodation Sales by Sector: Value 2005-2010

Table 31 Forecast Travel Accommodation Internet Sales: Internet Transaction Value 2005-2010

Table 32 Forecast Hotel Internet Sales: Internet Transaction Value 2005-2010

Table 33 Transportation Sales by Sector: Value 2000-2005

Table 34 Airline Company Rankings 2005

Table 35 Transportation Internet Sales: Internet Transaction Value 2000-2005

Table 36 Air Travel Internet Sales: Internet Transaction Value 2000-2005

Table 37 Forecast Transportation Sales by Sector: Value 2005-2010

Table 38 Forecast Transportation Internet Sales: Internet Transaction Value 2005-2010

Table 39 Forecast Air Travel Internet Sales: Internet Transaction Value 2000-2005

Table 40 Car Rental Sales: Value 2000-2005

Table 41 Car Rental Company Rankings 2005

Table 42 Car Rental Internet Sales: Internet Transaction Value 2000-2005

Table 43 Forecast Car Rental Sales: Value 2005-2010

Table 44 Forecast Car Rental Internet Sales: Internet Transaction Value 2005-2010

Table 45 Travel Retail Outlets: Units 2000-2005

Table 46 Travel Retail Sales: 2000-2005

Table 47 Travel Retail Internet Sales: Internet Transaction Value 2000-2005

Table 48 Travel Retail Company Rankings 2005

Table 49 Forecast Travel Retail Outlets: Units 2005-2010

Table 50 Forecast Travel Retail Sales: 2005-2010

Table 51 Forecast Travel Retail Internet Sales: Internet Transaction Value 2005-2010

Table 52 Tourist Attractions: Value 2000-2005

Table 53 Forecast Tourist Attractions: Value 2005-2010

DEFINITIONS

TRAVEL AND TOURISM

DEMAND FACTORS

Length of Trip

TOURISM PARAMETERS

Arrivals

Departures

Outgoing tourism expenditure

Domestic tourists

Domestic trips

Domestic tourist expenditure

TRAVEL ACCOMMODATION

Hotels

Other travel accommodation

Number of bed nights

Occupancy rates

Number of rooms and beds

TRANSPORTATION

Air

Other transportation

CAR RENTAL

TRAVEL RETAIL

TOURIST ATTRACTIONS

INTERNET SALES

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