More and more tourists are staying in their own homes when they come to Cyprus

In the last 6 years the number of foreign tourists staying in their own homes in Cyprus has increased from 114 thousand to 138 thousand people, it is 5.7% of the total flow of tourists arriving in the country. The number of those who stay in the flats, houses and chalets of their relatives and friends has increased to 471,000. It is 19.5% of the flow of tourists, that is, every fifth guest who comes to Cyprus.

This trend negatively influences the hotel business. Over the period mentioned above, the number of tourists staying in apartments and resort towns in Cyprus has decreased from 29.6% to 21%. However, the number of guests who prefer 3-, 4-, and 5-star hotels has increased from 43.4% to 47.5% of the total flow of tourists.

The Cyprus Tourism Organization (COT) welcomes the fact of the increase in the number of tourists staying in their own homes. According to COT experts, this phenomenon positively influences the tourism industry and the country’s economy. Property owners visit the country several times a year. This category of tourists is especially needed during the winter, because it is not the holiday season. In addition, the owners of the real estate spend a lot of money and invite their friends to the island. That’s why COT approves of this trend.

Cyprus’ economic woes have not ended the tendency to stay in places other than hotels, leaving the country’s tourism industry without a significant part of the billing. Another event influencing the economy is the fact that the “heaviest” European currency has disappeared, namely the Cypriot pound. There are forecasts from analytical agencies that Cyprus may become one of the most expensive European tourist addresses due to the increase in prices after the introduction of the general European currency in the country.