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Cyprus

Tourism revenue falls 88.5% in first seven months

Photo CNA

Revenues from tourism during the first seven months of the year took a nosedive, dipping by some €1.26 billion (close to 88.5 per cent) compared to the same period in 2019.

According to the Passengers Survey carried out by the Statistical Service, from January to July receipts came to €164.5m; receipts for the same period last year were at €1.425 billion.

Meanwhile tourism revenues for the month of July were a meager €42.5 million, down from €422 million in July 2019 – a decline of 89.9 per cent.

Tourists’ per capita spending in July 2020 was €654, compared to €765 in the same month last year.

The Statistical Service also released data on industrial output, showing the Industrial Production Index fell by 5.4 per cent in July 2020 compared to the same month last year.

For the January to July period, the index declined by 10.3 per cent compared to the same period in 2019.

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