Cyprus tourism revenue drops 21.3% y/y in October

Tourism revenue in Cyprus recorded its second largest fall this year in October, dropping by 21.3% over October 2008 to EUR 156.3 mln, compared with EUR 198.6 mln in the corresponding month of the previous year.
For the period January – October 2009 revenue from tourism is estimated at EUR 1,389.6 mln compared with EUR 1,668.8 mln in the corresponding period of 2008.
Revenue to date has thus fallen by 16.7%.
The fall in revenue comes on the back of a weak UK market, which still supplies more than half of all tourists, and a strong euro relative to sterling.