Big win for Paphos in 2024: €1.15 billion in tourism revenue – accounting for over one-third of all arrivals to Cyprus

At this week’s annual general meeting of the Paphos Regional Tourism Board (Etap), Cyprus’ Deputy Minister of Tourism, Mr. Kostas Koumis, affirmed that Paphos has firmly solidified its place on the global tourism map in 2024.

He highlighted the strong collaboration between Etap and the Deputy Ministry, which has helped drive targeted promotional campaigns. He also praised initiatives aimed at improving the overall quality of the visitor experience in the region.

Notably, a digital campaign launched in 2024 targeted 14 markets, particularly the UK, Germany, Poland, and France—reaching over 8 million unique users.

In addition to promotional efforts, Mr. Koumis pointed to key enhancements in the region’s tourism offering, including new nature trails, cycling routes, and cultural heritage projects in the Paphos hinterland—each contributing to a more immersive and sustainable visitor experience.

He also emphasized environmental initiatives such as coastal plastic waste prevention, clean-up campaigns, and tree-planting drives—all part of a wider sustainability agenda, supported by both the Deputy Ministry and the global tourism community.

He welcomed Etap’s participation in five European programmes, which have brought technical expertise and enabled partnerships with other destinations.

Regarding infrastructure upgrades, he described the planned Paphos marina in Kissonerga as an “emblematic project” moving ahead toward its scheduled completion in February 2027.

Mr. Koumis also underscored the growing connectivity of Paphos Airport, now served by 16 airlines with routes to 58 airports across 21 countries.

Additionally, he announced that 2024 marked a record year for Cypriot tourism, with over 4 million arrivals and revenues exceeding €3 billion for the first time.

“Tourism is the driving force of the Cypriot economy,” he noted, adding that these achievements were the result of methodical work, well-targeted decisions, and strong cooperation across the tourism ecosystem.

In that success, Paphos played a central role, accounting for around 35 per cent of total arrivals and overnight stays.

Looking ahead to 2025, he said the sector continues to perform strongly, with arrivals from January to April up by 15.6 per cent year-on-year—17.5 per cent higher than in 2023, and 62 per cent higher than in 2022.

“At the heart of every strategy and political action, we prioritize the tourism enterprise, authentic and unique hospitality—and it is in this context that we must continue to invest,” he said.

In his own address, Etap Chairperson Mr. Kyriacos Drousiotis acknowledged challenges facing the tourism sector, including geopolitical instability, rising inflation, labour shortages, and water scarcity.

Nevertheless, he reported that Paphos welcomed approximately 1.455 million visitors in 2024—about 36 per cent of all arrivals to Cyprus—generating €1.15 billion in foreign exchange revenue.

According to Mr. Drousiotis, this positive performance was driven by recovery in key markets such as the UK, Poland, France, and Italy; expanded flight capacity from Ryanair, EasyJet, Jet2, and Wizz Air; competitive fares; and the growth of independent travellers and short-term rental guests.

He added that digital campaigns, new tour operator packages, and a more mature market also contributed to the destination’s resilience.

The event included audiovisual presentations showcasing Etap’s 2024 initiatives and concluded with a reception and artistic programme.
Attendees included local MPs, mayors, community leaders, government officials, tourism professionals, and business representatives.

With strong momentum and a stable year-round flow of international visitors, Paphos is becoming an increasingly attractive real estate market—particularly in the buy-to-let segment. The growing demand for short-term stays from European travellers creates a practical opportunity for investors to earn rental income from well-positioned properties.

Portico & Bridge currently holds a portfolio of high-quality projects in Paphos, carefully selected for their legal clarity, architectural appeal, and strategic location—tailored to meet international investor standards. Many of these properties are reasonably priced and well-suited for both personal use and rental income generation.

Under the leadership of Mr. Frangos Frixos—Founder and Chairman of Portico & Bridge, and a native Cypriot—the firm has deep local market knowledge and a strong grasp of Cyprus’s legal and investment environment. This gives Portico & Bridge a clear edge in delivering transparent, secure, and long-term investment solutions for clients in Paphos and across Cyprus.