articles | 03 June 2016

Cyprus' tourism revenue up 24.5% in March 2016

Revenue from tourism recorded a significant increase of 24.5% in March 2016, amounting to €80.9 million in March 2016 compared to €65.0 million in the corresponding month of the previous year.

On the basis of the results of the Passenger Survey by the Statistical Service of Cyprus, this is the best March in terms of revenue from 2005 onwards, due to the significant increase in tourist arrivals. However, revenue growth was not commensurate with the increase in arrivals in March 2016 by 40.6%, compared to the same month of 2015. Total per capita expenditure in March 2016 fell to €590 from €667 in March 2015.

Arrivals from Britain, recorded the biggest increase, amounting to 59,282 tourists in March 2016 compared to 41,149 tourists in the corresponding month of 2015. However, their per capita expenditure reduced to €647 from €707 in March 2015.

Significant increase was also recorded in arrivals from Germany (12,917 in March 2016 compared to 7,443 in March 2015) and Russia (12,835 in March 2016 compared to 7,855 in March 2015). The per capita expenditure recorded a decrease both for tourists from Germany (€634 from €744 in 2015) and for tourists from Russia (€568 from €841 in 2015).

For the period January–March 2016 revenue from tourism is estimated at €147.6 mn compared to €124.3 mn in the corresponding period of 2015, recording an increase of 18.7%.

In a press release the Cyprus Tourism Organisation (CTΟ) points out the significant increase in revenue, saying that with the continuous and coordinated effort of all tourism partners and state services, there is always room to achieve even better results which will in turn have a positive impact on the country’s economy.

Source: Famagusta Gazette

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