Cyprus saw its revenue from tourism slump 12% in October 2014 compared to a year ago to €217 million, the statistical service said recently.
In October, arrivals fell an annual 8.1% to 251.453.
Overall revenue in January to October fell to €1.9 billion, which is 3.6% lower compared to the respective period a year ago, Cystat said in a statement on its website today.
The total number of arrivals in January to October was 2.3 million, 1.5% more compared to the respective 2013 period, according to Cystat.
Arrivals from Russia, which is Cyprus’s second largest source of incoming tourism, started to decline as a combination of sanctions targeting the country’s financial and energy sector and reduced revenue from energy exports hurt the Russian economy.
Source: Cyprus Mail
