Cyprus Mail

Revenue from tourism rises 22% in February

Revenue from tourism rose 22 per cent year-on-year in February, to €37.6m, the statistical service said.

In the first two months of the year, total revenue rose 12 per cent, to €66.7m, compared to the respective period last year, Cystat said in a statement on its website on Wednesday.

Tourist arrivals in February 2016 rose an annual 30 per cent while those in January to February rose 24 per cent, according to Cystat. Directly or indirectly, tourism accounts for one quarter of Cyprus’s economy which emerged last year from a prolonged recession.

While tourists increased their average daily spending this February 4.7 per cent, to €64.82, they also shortened their stay by 1.1 days, on average, to 8.8 days. This resulted in a per capita spending during the entire vacation of €570.45, 6.5 per cent less compared to February 2015, Cystat said.

Tourists from the UK, Cyprus’s largest source of tourism, cut their daily spending and the length of their stay in February by an annual 2.5 per cent, to €62.15, and 5.4 per cent to 10.2 days. As a result, their overall spending during their stay in Cyprus fell 7.8 per cent, to €633.93, Cystat said. Russians, who make up the second largest market, spent €84.40, 5.2 per cent less, compared to February last year, and shortened their stay by 12 per cent to 9.4 days – combined it led to an average spending of €793.37 during their Cyprus holidays.

German tourists spent €560.89 while vacationing in Cyprus in February, 11 per cent less compared to last year while Greek tourists increased their spending 2.5 per cent, to €374.06, Cystat said.

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