Cyclades: Winners and losers in terms of accommodation and food services revenue

Tourism in the Cyclades sent mixed signals in the third quarter of 2024 in terms of accommodation and food service activities revenue, according to data published by ELSTAT and processed by MTC GROUP.

More specifically, in the accommodation sector, Santorini ranked first in terms of revenue with 267,539,905 euros, despite the fact that it recorded a 9.9% drop compared to the corresponding period last year.

Mykonos followed with 199,488,541 euros income and a 5.9% drop.

In third place was Paros with 58,168,971 euros and an increase of 2.6%, fourth was Naxos with 57,557,720 euros and an increase of 2%, fifth was Milos with 41,549,594 euros and an increase of 4.7%, sixth was Syros with 10,086,556 euros and an increase of 3.2%,  seventh was Tinos with 8,214,429 euros and a decrease of 1.5% and Andros was last with 5,247,374 euros and a decrease of 5.1%, as well as Kea and Kythnos with 4,468,240 euros and a decrease of 2.1%.

In the restaurant sector, turnover amounted to 108,176,793 euros in Santorini, 109,783,921 euros in Mykonos, 58,557,047 in Paros, 49,424,936 in Naxos, 31,828,168 in Milos, 18,509,370 in Syros, 15,790,912 in Tinos, 9,568,867 in Kea and Kythnos and 8,908,131 in Andros.

Despite the decline, Santorini and Mykonos maintained the first positions. Paros followed with 116,762,018 euros, Naxos with 89,385,888 euros, Milos with 60,058,964 euros, followed by Syros with 28,595,926 euros and Tinos with 23,915,341 euros. Andros was in last place with 14,155,505 euros, with Kea and Kythnos recording revenues of 14,037,107 euros.

In September 2024, both Milos (+32.9%) and Paros (+23%) recorded notable increases in the accommodation and food service sectors.