Key Market Indicators
The number of available hotel rooms in Cyprus is projected to decline to approximately 42,700 by 2028, down from around 43,100 in 2023. This represents an annual decrease of 0.2%, marking a shift from the 0.4% annual growth observed since 1995. In 2023, Cyprus ranked 23rd globally in terms of hotel room supply. Slovakia slightly edged out Cyprus with a similar number of available rooms. Leading the rankings were Germany, Spain, and France, holding the second, third, and fourth positions respectively. Hotel occupancy levels in Cyprus saw a significant rise, reaching nearly 36.4% in January 2021. This marks a notable increase from the 11.4% occupancy rate recorded in December 2020.
