COVID19: Cyprus tourism income hits rock bottom

Cyprus tourism revenue recorded a steep annual drop for the first six months of this year, data released by the Cyprus Statistical Service show.

Revenue from tourism in June 2020 reached €6.7 mln compared to €350.4 mln in the same month last year, recording a decrease of 98.1%.

For the six-month period January-June, revenue from tourism is estimated at €122 mln compared to €1.003 bln in the same period of 2019, recording a decrease of 87.8%.

Due to coronavirus lockdown measures, non-residents were barred from entering Cyprus from 15 March until June 8.

From 9 June, when a ban on commercial flights was lifted, a gradual easing of the travel restrictions was implemented, allowing arrivals from selected countries based on their epidemiological risk assessment.

Markedly reduced numbers of tourists prevented a more detailed analysis of expenditure habits.

Revenue from tourism generated €2.68 bln in 2019, down 1% from the previous year, bolstered by record arrivals of 3.97 million.

A COVID-19-ravaged 2020 will paint a completely different picture for a sector that contributes around 15% GDP to the Cyprus economy.