Cyprus tourism revenue falls even further than arrivals

Cyprus tourism revenue in July was even more disappointing than arrivals, as revenue from tourism reached EUR 272.9 mln, a decrease of 5.0% compared with the EUR 287.3 mln recorded in July 2007.
The number of arrivals fell year on year by 2.8% to 342,554 in July 2008, compared with 352,423 in July 2007.
Similarly, for the period January – July 2008, revenue from tourism is estimated at EUR 944.8 mln, a fall of 2.0% compared with the EUR 963.7 mln recorded in the corresponding period of 2007.
Revenue has probably been hit by the weak sterling, as Britons account for more than half of all tourists.
For the period January – July 2008 arrivals of tourists increased by 1.2% to 1,332,406 compared with 1,316,521 in the corresponding period of 2007.