Travel
Greece vs Cyprus: The latest on the Eastern Mediterranean Tourism Industry
Greece and Cyprus have been long-standing favourite holiday destinations for decades but the financial crisis afflicting both countries has had a significant impact on tourism.
Despite this, Greece saw tourism receipts increase during the month of June 2013. This might be in part due to the fact that cheap flights to Cyprus and Greece are still abundant and low-spending costs are enticing budget holiday-makers to travel here. Though Cyprus has seen a predicted drop in tourism numbers from some countries, visitors from Russia have actually increased.
So let’s take a look at how the two countries compare in the outlook for their travel industries…

Image by Eoghan O’Lionnain,
Cyprus tourism remains hopeful
According to Minister of Commerce, Industry and Tourism, Neoclis Sylikiotis, Cyprus had a ‘positive’ year in 2012. This year, the picture was a little different, with the island taking a severe financial battering. When the bank freeze hit, some tourists panicked and bookings to Cyprus dropped by around 75% during the run up to the April holidays, one of most popular holiday periods of year on the island.
However, this meant something of a bonanza was ahead for summer holiday makers to Cyprus thanks to the hotel owners slashing their prices. In fact holiday makers from places like the UK may have reduced in number, but many other countries, including Germany and Russia have returned in their droves.
With economic progress anticipated thanks to natural gas discovered in Cyprus’ Exclusive Economic Zone and the recent addition of British Airways flights to Larnaca Airport, the future looks to be more promising than first thought.
Greece sees surge in tourism
The Greek economic crisis is now in its fourth year but figures for tourism are surprisingly bright. Tourism receipts for Greece increased by 21% in June 2013 (just under €1.6 billion) compared to June 2012. Forecasters are claiming that Greece is set to have a record summer season, which will give the debt troubled country a much needed injection of foreign cash.
Restaurants, holiday businesses and hotel owners have also been cutting their prices in Greece and this is good news for visitors looking to make their holiday cash stretch further. Greece has seen a surge in holiday makers from countries such as Russia and Turkey, who do spend more on average that visitors from other countries.
So in short, though both economies have had their fair share of challenges over the last few years, the ever-appealing mix of ancient history, temperate climate and pristine beaches continues to work in favour of Cyprus and Greece respectively. The low prices and attractive deals offered to boost the industry can only be a winner for international visitors, so it is not too hopeful to expect a more stable holiday season in years to come.
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