President Nicos Anastasiades said Tuesday Cyprus had taken all necessary measures to dampen the impact of a no-deal Brexit but some effects would be felt nevertheless.
Cypriot authorities are worried that the protracted uncertainty caused by Brexit would discourage Britons from going on holiday this year.
The UK is Cyprus biggest tourist market, accounting for more than 1.3m visitors in 2018, up from the previous year when 1.2m visited.
“We have taken all necessary measures, without it meaning that we will absorb all of the impact,” Anastasiades said. “How do you replace one million British tourists if half decide not to come due to the uncertainty?”
The president said efforts were underway to attract visitors from other markets but some loss – “not dramatic” – will be suffered if there is a no-deal agreement.
Last month, Cystat said tourist arrivals from the UK increased by 3.9 per cent in February 2019 compared with February 2018, while tourist arrivals from Greece remained unchanged.
Arrivals from Russia recorded a decrease of 22.7 per cent and arrivals from Israel and Germany declined by 13.4 per cent and 10.5 per cent respectively.
The UK was the main source of tourism in the second month of the year with of 35.1 per cent, followed by Greece with 11.4 per cent, Russia with 8.8 per cent and Israel with 7.5 per cent.
Almost 4 million tourists visited in Cyprus in 2018, an all-time high.