Key Market Indicators
The revenue of Cypriot travel agencies is projected to reach €112 million by 2028, marking a 1% year-on-year compound annual growth rate (CAGR) from €104 million in 2023. Since 2013, the Cypriot market has shown a consistent annual growth rate of 3.1%. Despite this upward trend, Cyprus was ranked 25th in 2023, with Macedonia surpassing it to reach €104 million in revenue. In the broader European context, Spain, Germany, and Italy secured the top three spots, respectively, in the 2023 rankings for travel agency revenue.
