Cyprus tourism revenue declines while Greece records growth amid Middle East war

Nicosia, Cyprus. The war in the Middle East has hurt tourism in Cyprus more than in Greece, where receipts and visitor numbers both grew by double digits, while Cypriot earnings fell over the same eight-month period of 2026.

Cyprus figures

Cyprus earned €2.32 billion from tourism between January and August, a drop of 6.2 per cent from €2.47 billion a year earlier. Arrivals over the first nine months of the year were 5.6 per cent lower than in the same period of 2025.

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Greek figures

Between January and August, Greece took in €18.2 billion from tourism and welcomed 28.5 million travellers. Revenue was up 9.4 per cent and visitor numbers 10 per cent on the corresponding period last year.

The two results show that the geopolitical crisis affected destinations unevenly, even though both countries faced uncertainty stemming from the conflict.

Greek sector resilience

The Greek industry has coped with what is described as another major stress test, as the Middle East crisis came on top of several challenges of recent years. Its result stands out because the start of the summer season had been weaker than anticipated.

Early estimates suggest annual revenue in Greece could surpass €25 billion for the first time. For comparison, 2025 brought €23.6 billion in receipts and 43.3 million visitors, cruise passengers included. Part of the projected increase could stem from inflation rather than from a matching rise in tourism activity.

Cyprus spring impact

In Cyprus, the regional crisis was felt most strongly during the spring. Deputy Minister of Tourism Kostas Koumis said the sector faced an unprecedented challenge because of external developments.

Presenting the ministry’s 2027 budget, he said: “2026 will undoubtedly remain in the history and memory of those working in the sector as a year during which our country’s tourism industry was called upon to face an unprecedented crisis as a result of external factors.”