Cyprus tourism recovers in May but UK disappoints

Tourism arrivals recovered in May according to the latest results of the Passenger Survey, rising by 3.5% over the year earlier after a drop of 5.1% in April.
Total arrivals reached 276,781 in May compared with 267,487 in May 2011.
The biggest increase was recorded in arrivals from Russia, which rose by 31.6% to 53,671, from 40,772 in May 2011. Russia is now Cyprus’ second biggest market for tourism, accounting for 14%, or one seventh of tourists in 2011.
There was also an increase of 13.8% in arrivals from Sweden from 14,813 to 16,856 and a 3.7% increase from Germany from 14,445 to 14,985 this year.
However, despite a strong sterling relative to the euro there was a decline in arrivals from the UK. Although shrinking, the UK remains by far the largest market, accounting for 43% of arrivals in 2010.
Arrivals from the UK dropped over the year earlier by 5.4% to 113,289 in May 2012, from 119,752 in May 2011.
There was also a 4.7% drop in arrivals from Greece to 11,446 compared from 12,016 last year. Greece is the fourth largest market, accounting for 5.8% of arrivals in 2011.
Fiona Mullen
www.sapientaeconomics.com