articles | 03 November 2017

August 2017 tourist revenue seen at €423.6m, up 8%

Revenue from tourism rose in August 2017 by 8% to €423.6m compared with the respective month of 2016, which is the second highest ever amount in a month after July 2016, the statistical service said.

The increase in revenue in August was mainly on an annual 14% increase in arrivals in the same month which more than offset a 5.4% drop in the budgets to €809.01 of visitors on average, Cystat said in a statement on its website on Friday. Tourists reduced in August their average length of stay by 0.2 days to 10.3 days and their average spending per day 3.6% to €78.54.

While the number of tourists from the UK, Cyprus’s main source of vacationers, rose 7.9% in August, they spent on average €837.97 each during their stay or 5.4% less compared with August last year, Cystat said. In the case of tourists from Russia, the island’s second largest source of incoming tourism, their number dropped 2.5%. They also spent €850.76 or 0.5% less during their stay on average.

In January to August, tourism revenue rose 14% to over €1.8bn, against a 15% increase in arrivals to 2,517,887, Cystat said. Tourism accounts directly or indirectly, roughly a quarter of Cyprus’s economy, expected to expand 3.5% this year.

Source: Cyprus Mail

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