In the first four months of the year, revenue from tourism, one of the main drivers of economic recovery following the 2013 crisis, rose an annual 6.9% to €382.5m, Cystat said in a statement on its website on Wednesday. In January to April, tourist arrivals rose 20%.
The decline in revenue from tourism in April was mainly on an annual 13% reduction of visitors’ holiday budgets to €577.39 resulting from a shortening of their average stay by 0.7 days to 8.1 days and a 5.3% reduction in average spending per day to €71.28, Cystat said.
Tourists from the UK, whose economy plunged into uncertainty two years ago when voters decided to leave the European Union, reduced their holiday budgets 10% to €651.53 compared to the respective month of 2017, Cystat said. Tourists from Russia, Cyprus’ second largest source of incoming tourism after the UK, reduced their holiday budgets twice as much to €625.09.
German tourists spend in April €686.10 during their stay which is 7.6% less compared to April last year, according to Cystat. In the case of visitors from Israel and Greece, the drop was 16% and 5.1% to €546.61 and €286.72 respectively.
Source: Cyprus Mail