Cyprus Mail
BusinessCyprus

March tourism revenue up 28%, lagging behind arrivals

Revenue from tourism rose 28 per cent, to €110m, year-on-year in March, far below the overall 36 per cent increase in arrivals, as Cyprus continued to attract more tourists with smaller travel budgets, the statistical service said.

In the first three months of the year, the amount spent by tourists in Cyprus rose 20 per cent compared to the respective quarter last year, to €201.1m, Cystat said in a statement on Tuesday. Tourists arrivals rose in the first quarter an annual 29 per cent.

Tourists from the UK, Cyprus’s main market, which plunged into economic uncertainty two years ago after voters decided to leave the European Union, spent €575.12 on average during their stay on the island, or 23 per cent less compared to March 2017, Cystat said.

The overall number of UK tourists rose 25 per cent, to 54,571, offsetting the drop in spending.

In the case of visitors from Russia, which became the second largest source of tourism in recent years, spending fell an annual 7.4 per cent, to €571.82, which was also more than offset by a 14 per cent annual increase in arrivals to 19,910, Cystat said.

The overall average spending per visitor fell 6.4 per cent to €572.48, Cystat said.

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