Hotel Occupancy in Paphos Could Drop by 10% This Summer

Experts predict a decline in hotel occupancy in Paphos for the summer season of 2024 due to economic factors and the situation in Israel.

According to the president of the Paphos Hotel Association, Evripides Loizides, a 10% decrease in tourist traffic is expected in the city’s accommodation facilities during the summer period.

The expert attributes this decline primarily to the lack of air connections with Israel, which have not yet been restored, and to the situation in the British tourist market, which has worsened due to various economic factors. Additionally, “events in neighboring countries” could also lead to a decrease in hotel occupancy at the Cypriot resort.

It is noted that the winter of 2024 began satisfactorily for the hotel industry in the Paphos area: January performed at the same level as January 2023. The following two months, February and March, also performed satisfactorily, showing a 10% increase, which is "an encouraging signal for addressing seasonality."

However, April showed a slight decline of about 3%. Although official statistics for May are not yet available, the expert believes that the last month of spring "did not bring satisfactory results for the resort."

Evripides Loizides expressed hope that the situation in neighboring countries would normalize as soon as possible, as "the summer months are expected to be much worse than last year."

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