Tourism revenue rises in October 2017 by 4.2% to €277m

Revenue from tourism rose in October 2017 an annual 4.2% to €277.1m, against an increase in arrivals of 14%, the statistical service said recently.

In January to October 2017, revenue from tourism rose 15% to €2.5bn, Cystat said in a statement on its website. In the same period, total arrivals rose 14%.

The lower rate of increase in revenue compared to the increase in arrivals was mainly on an 8.6% annual reduction in holiday budgets to €681.05, accompanied by an increase in the length of stay by 0.1 days to 9.3 days, Cystat said.

Tourists from the UK reduced their budgets 11% in October compared to October 2016 to €737.08 and reduced their average length of stay by 0.1 days to 10.1 days, Cystat said. Russian tourists also reduced their expenditure by 8% to €673.26 during their stay which they extended by 1.1 days to 10.

The UK is Cyprus’ largest source of incoming tourism, while Russia is the second largest.

Source: Cyprus Mail

Cyprus Profile

articles | 12 January 2018