Cyprus has emerged as a rising star in Mediterranean tourism. According to Statista, international tourist arrivals surged by 20.1% in 2023 compared to the previous year, with 3.8 million visitors recorded. Tourism revenue also grew by 22.6% reaching €2.99 billion, CySTAT announced.
This surge is supported by increased airlift. In December 2023, Cyprus Airways announced its expanded summer 2024 schedule, adding 40% more seats compared to last year, with flights to 19 key destinations, including Athens, Paris, Dubai, and Tel Aviv.
However, it’s not just tourism that’s booming.
Cyprus is also experiencing rapid residential development, driven by geopolitical shifts in the region. With instability in neighbouring countries, many individuals and investors are choosing Cyprus as a safe and attractive destination. This influx of new residents is driving demand for real estate, particularly in high-end residential and tourism-related projects.
Commenting on the current market trends, Group CEO Roger Allen said:
"Cyprus has become a key player in the Mediterranean, not just due to its tourism growth but also because of broader regional dynamics. We’re witnessing a unique convergence of factors creating opportunities for long-term development in both the tourism and the residential sectors. It’s an exciting time to be part of this transformation."
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Our senior team has completed a site visit to the Black Sea coast, conducting market exploration for a luxury resort development in an established destination. Read more
Our senior team has completed a site visit to the Black Sea coast, conducting market exploration for a luxury resort development in an established destination. Read more
We are pleased to announce the appointment of Henning Matthiesen as Non-Executive Director, effective April 15, 2026. The appointment strengthens the firm's Resort and Hotel Consulting practice with the addition of one of Europe's most experienced luxury hoteliers. Read more
We are pleased to announce the appointment of Henning Matthiesen as Non-Executive Director, effective April 15, 2026. The appointment strengthens the firm's Resort and Hotel Consulting practice with the addition of one of Europe's most experienced luxury hoteliers. Read more
Operational audits can be a powerful diagnostic tool for hotel and resort owners seeking to improve property performance. But if done the wrong way, they remain expensive exercises that deliver little value. In this article, we look at what audits should assess, how they should be planned and executed, and how findings can be put to work effectively. Read more
Operational audits can be a powerful diagnostic tool for hotel and resort owners seeking to improve property performance. But if done the wrong way, they remain expensive exercises that deliver little value. In this article, we look at what audits should assess, how they should be planned and executed, and how findings can be put to work effectively. Read more
Hotel owner representation increasingly extends beyond individual projects to supporting investors throughout the entire lifecycle of their assets. Here is how this role can unlock value in key phases of the investment. Read more
Hotel owner representation increasingly extends beyond individual projects to supporting investors throughout the entire lifecycle of their assets. Here is how this role can unlock value in key phases of the investment. Read more
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