Mediterranean island receives tens of thousands of cancellations – holiday hotspot faces “challenges”

High temperatures and beaches attract tourists to Cyprus. But in 2024, the power will collapse. Many holidaymakers will cancel.

Cyprus – Actually known as a popular holiday destination, the island of Cyprus is fighting to retain this title in 2024. Numerous tourists are currently cancelling their bookings. The tourism board has admitted that it is facing “challenges” after the island experienced a slump in bookings. In Munich, on the other hand, is seeing a new tourism record.

Holiday paradise Cyprus particularly popular with travellers from Turkey, Great Britain and Germany

Good weather, beautiful beaches and numerous historical sights: Cyprus has attracted many travelers over the years. But the rising cost of living and the difficult economic situation have led the authorities to fear that the tourism boom in Cyprus could soon be over, reports The Mirror.

Great Britain provides numerous guests to the Mediterranean island, with over a million flying there every year. According to Cyprus.de 75-80 percent of holidaymakers in Cyprus are Turkish. But Germans also make up a large proportion of tourists.

Despite the upturn: 30,000 holiday cancellations for Cyprus in 2024

Deputy Minister of Tourism, Kostas Koumis, explains that the country has seen 30,000 cancellations this year, costing the economy around £30 million. Despite this, he continues to see “remarkable growth” in both visitor numbers and revenue.

Despite the challenges, Cyprus, like a few other holiday destinations, experienced a remarkable upturn last year and, according to Mirror almost the pre-pandemic level. The number of tourist arrivals was almost four million in 2019, after falling to just 632 thousand in 2020, but then climbed impressively again to around 3.8 million in 2023, reports Manchester Evening News.

FTI bankruptcy responsible for cancellations in Cyprus? Low market share

Koumis also rejected claims that the bankruptcy of Germany’s third-largest tour operator FTI had worsened the situation in the country: “Of course [der Konkurs] another unfortunate development for the industry internationally, but it is worth noting that the tour operator’s market share in Cyprus was very small. The tour operator only had 30,000 bookings in Cyprus per year, so the negative impact on the local tourism industry was limited.”

He further said: “The current year is undoubtedly a year of challenges for the tourism industry worldwide. The financial situation in many European countries, the decline in purchasing power of millions of households around the world and various other challenges have led stakeholders to question the performance of the sector. Nevertheless, the performance of the Cypriot tourism industry remai
ns strong and shows resilience.” (no)