Cyprus tourism revenue tumbles 17.3% in May

Revenue from tourism tumbled even further than arrivals in May, falling by 17.3% over the year earlier to EUR 158.1 mln, compared with EUR 191.3 mln in the corresponding month of the previous year.
The number of arrivals in the same period dropped by 9.2%.
A strong euro could be the reason for the fast decline, as tour operators try to keep prices steady in sterling. More than half of all tourists come from the UK.
For the period January – May 2009 revenue from tourism is estimated at EUR 390.4 mln, a fall of 11.7% compared with the EUR 442.3 mln in the corresponding period of 2008.