Cyprus Mail
Cyprus

April tourism revenue down 4.3% as Britons, Russians reduce spending

By Stelios Orphanides

Revenue from tourism fell in April 4.3 per cent to €181.4m compared to the respective month of 2017 against a 9.7 per cent increase in arrivals, the statistical service said.

In the first four months of the year, revenue from tourism, one of the main drivers of economic recovery following the 2013 crisis, rose an annual 6.9 per cent to €382.5m, Cystat said in a statement on its website on Wednesday. In January to April, tourist arrivals rose 20 per cent.

The decline in revenue from tourism in April was mainly on an annual 13 per cent reduction of visitors’ holiday budgets to €577.39 resulting from a shortening of their average stay by 0.7 days to 8.1 days and a 5.3 per cent reduction in average spending per day to €71.28, Cystat said.

Tourists from the UK, whose economy plunged into uncertainty two years ago when voters decided to leave the European Union, reduced their holiday budgets 10 per cent to €651.53 compared to the respective month of 2017, Cystat said. Tourists from Russia, Cyprus’s second largest source of incoming tourism after the UK, reduced their holiday budgets twice as much to €625.09.

German tourists spend in April €686.10 during their stay which is 7.6 per cent less compared to April last year, according to Cystat. In the case of visitors from Israel and Greece, the drop was 16 per cent and 5.1 per cent to €546.61 and €286.72 respectively.


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