In the first five months of the year, total revenue from tourism rose 22% to €649.2m compared to January to May last year, Cystat said in a statement on its website on Monday. Arrivals from January to May rose an annual 18%.

The increase in revenue was mainly on a 3.8% increase in spending per person to €696.08 in May compared to €670.64 in May 2016, Cystat said. This was mainly on a 20% increase in average spending by tourists from Russia, Cyprus’ second-largest source of incoming tourism, to €672.76, which more than offset a 12% slump in the case of tourists from the UK, traditionally Cyprus’ major source of tourism, to €716.04.

Revenue from tourists from Germany rose 0.7% while in the case of Greek tourists it dropped 6.5%, Cystat said.

The highest increases were recorded in tourists from Poland, the US, and Israel, who respectively spent in May 40%, 37%, and 33% more than they did a year before, Cystat said.

Tourism accounts for roughly a quarter of Cyprus’ economy, directly or indirectly.

Source: Cyprus Mail