Cyprus Mail
Business Cyprus

Cyprus Jan-Aug tourist numbers down 5.3 pct yr/yr as bailout takes toll

The number of tourists visiting Cyprus fell 5.3 per cent in the first eight months of 2013, data showed on Monday, as the island nation was forced to accept a harsh international bailout early in the year.

The number of German and British holidaymakers to the Mediterranean island tumbled 36 and 13 per cent, respectively, Statistics Department figures showed. More Britons visit Cyprus each year than any other nationality.

“The market froze in March and April after the crisis… Maybe there were concerns there would be social upheaval like in Greece,” said Lakis Avramides, who represents the Famagusta tourism marketing board.

The drop was counterbalanced by a newly emerging Russian market, from which arrivals rose 25 per cent on an annual basis as tour operators put on extra flight capacity – despite rich Russians getting hit particularly hard in the bailout deal.

In total, 1.63 million tourists visited the island from January to August, compared to 1.72 million last year.

Cyprus signed up to an austerity programme and shut down one of its largest banks in March to qualify for €10 billion euros in aid.

Unlike other eurozone nations, there has been very little display of public unrest over the programme of reduced spending other than the odd small-scale demonstration outside parliament. (Reuters)

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