Cyprus is the third most expensive country among EU members in terms of organised package holiday prices, and that tax revenues entering state coffers increased by 1 billion euros in the first half of the year.
Based on data released by Eurostat, local media reported that the price of package holidays in July 2024 increased by 16.7% compared to the same month of the previous year.
According to reports, the country where the package holidays will increase the most in 2024 compared to 2023 is France with 22.2 percent, followed by Italy with 19.5 percent and Cyprus with 16.7 percent.
Haravgi, a Cypriot daily, noted, ‘Cyprus is the Expensiveness Champion in Tourism in July 2024’ and stated that the cash surplus stood at 702.5 million euros (2.2 percent of GDP), while the cash surplus in the same period last year was 345.9 million euros (1.2 percent of GDP).