Cyprus tourism sector reports significant decline in summer bookings

Christos Angelides, Director General of the Cyprus Hotel Association (PASYYXE), announced on May 4, 2026, that summer hotel bookings have fallen by 25% compared to the same period last year. Current hotel occupancy rates hover between 40% and 50%, a stark contrast to the 75% recorded during the same period in 2025, which peaked at 95% in July. The decline is attributed to ongoing regional instability following a drone strike near British bases, leading to concerns over potential revenue loss and job security. Angelides noted that while cancellation rates have stabilized, new reservations are increasing too slowly to recover the projected losses for the remainder of the season. Additionally, rising kerosene prices have prompted airlines to reevaluate route profitability, with some carriers already reducing flights to Cyprus. Industry representatives, including the OUXEKA-SEK union, are urging the government to seek financial aid from the European Union to protect the sector. Officials are also actively working with embassies to adjust travel advisories from key markets such as the United Kingdom and the United States.