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Travel, Leisure and Tourism

Travel, Leisure and Tourism

The tourism industry is one of the largest economic sectors in Cyprus and is an engine for economic growth, while offering attractive opportunities for investors as well as market operators.

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Cyprus offers tourists a wide range of activities. Stunning landscape and a rich history are the foundations on which to build world-class tourist destinations. The temperate weather, beautiful sunsets, a rich historical, natural and cultural heritage, as well as a tradition of hospitality and good food are the basis for a thriving tourism industry in Cyprus.

Cyprus has experienced substantial growth over the last five years, with tourists averaging around 2,4 million per year. According to the World Travel & Tourism Council’s Economic Impact report, the travel and tourism sector in 2013 made up approximately 20,6% of GDP and is forecasted to rise to 30,9% of GDP by 2024. The total contribution of travel and tourism to GDP on which the estimations have been based include wider effects from investment, the supply chain and induced income impacts.

KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative ("KPMG International") a Swiss entity. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG International Cooperative ("KPMG International") or KPMG member firms.

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