Tourism revenue up in June

Revenue from tourism reached CYP117,7 mln in June 2006 compared to CYP113,3 mln in the corresponding month of the previous year, recording an increase of 3,8%, the Statistics Department said.

For the period January – June 2006 revenue from tourism is estimated to CYP 387,1 mln compared to CYP 372,4 mln in the corresponding period of 2005, recording an increase of 3,9%.

According to an analysis by Egnatia Financial Services, the increase in tourism revenue implies improved revenue per tourist from CYP 365 to CYP 387 for the period compared to the same period of 2005, despite a decrease in tourist arrivals by 2% YoY for the same period. We also note that the first six months of the year represent 41% of annual tourist arrivals and 37% of annual tourism revenues. Although this is a good indication for the remaining period of the year, the third quarter of the year is the strongest in terms of both revenues and arrivals.