NewsLocalProjected growth recovery in 2021 in Cyprus' main tourist markets raises hope

Projected growth recovery in 2021 in Cyprus’ main tourist markets raises hope

The International Monetary Fund’s projected growth recovery this year in main tourist markets of Cyprus following a severe collapse in 2020 paves the way for cautious optimism, Philenews reports.

Specifically, growth in the United Kingdom which is the main tourist market of Cyprus is expected to rise to 5.3% in 2021 and 5.1% in 2022 following 2020’s severe collapse of 9.9%.

At the same time the vaccination programme of the United Kingdom is in full swing. The first dose of the vaccine has been given to over 61% of the adult population and the second dose to over 15%.

In Russia, a country that strongly supports Cyprus in tourism, expects a 3.8% growth this year and 3.1% in 2022 after a severe contraction in 2020.

The country’s vaccination program in also in full swing and, according to Health Minister Michael Murasko, the country plans to vaccinate more than 30 million people by mid-June.

Another big tourist market for Cyprus is neighbouring Israel which expects a 5% growth this year and 4.3% in 2022 after a 2.4% contraction in 2020.

Israel has vaccinated over 60% of its population and has one of the most successful vaccination programmes which was launched in December 20 last year.

In France, growth is expected to reach 5.8% this year and 4.2% in 2022. At the same time, financial aid measures to tackle the coronavirus will remain in place until the end of the pandemic.

After a slow start, the distribution of vaccines in France is gaining momentum. More than 16% of the population has received the first dose and over 5.5% is now fully vaccinated.

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