Travel and Tourism in Cyprus to 2020

Published: June 2016
No. of Pages: 112
    ReportsandReports

Summary

Cyprus's tourism sector registered growth in 2015, driven by the cheaper Euro which attracted key markets to the country. Outbound tourism in Cyprus declined to 1.1 million in 2015. The country's sluggish economic growth and high unemployment rate were the reasons that could be attributed for such decline.

Key Findings

  • Inbound tourism in Cyprus registered growth during the historic period (2010-2015), with trips increasing from 2.2 million in 2010 to 2.7 million in 2015. The growth was largely driven by the Euro performance which helped to attract tourists from key countries such as the UK. Moreover, the country's image as a safe tourism destination will also support growth over the forecast period (2016-2020), with the number of arrivals forecasted to reach to 3.4 million by 2020. Spending by foreign tourists grew from EUR2.3 billion (US$2.6 billion) in 2015, to EUR3.3 billion (US$3.8 billion) in 2020.
  • In 2016, the S7 Airlines launched a new airline company called Charlie Airlines. This new airline is expected to operate from Larnaca International Airport. Charlie Airlines is a joint venture between the S7 Airlines and other local investors
  • In September 2015, Cyprus Tourism Organization (CTO) Chairman, Angelos Loizou announced that by easing the visa process, the country aims to attract almost 400,000
  • Chinese tourists per year. According to CTO, the tourists from China will also boost the tourism growth in the capital city of Cyprus, Nicosia.

 Synopsis

Canadean's report - Travel and Tourism in Cyprus to 2020 - provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

  • Historic and forecast tourist volumes covering the entire Cyprus's Travel and Tourism sector
  • Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
  • Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
  • Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travellers

Reasons to Buy

  • Make strategic business decisions using historic and forecast market data related to Cyprus's Travel and Tourism sector
  • Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
  • Direct the promotional efforts on most promising markets by identifying the key source and destination countries

Companies Mentioned

  • Pegasus Airlines
  • Turkish Airlines
  • Transaero Airlines
  • Ryanair
  • easy Jet
  • Tsokkos Hotels and Resorts
  • Louis Hotels
  • Atlantica Hotels and Resorts
  • Marismare Hotels
  • Kanika Hotels and Resorts
  • Leptos Calypso Hotels and Resorts
  • Sunrise Hotels
  • Thanos Hotels
  • Muskita Hotels
  • Crown Resorts Group

Published By: Canadean
Product Code: Canadean12195


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