COVID19: Cyprus tourism revenue at rock-bottom

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Revenue generated from Cyprus tourism plunged 87.3% year on year to €235.6 mln for the first eight months, a clear marker the sector has been hardest hit by the coronavirus pandemic.

A mixture of national lockdowns and travel restrictions has decimated the island’s tourism industry which generated €2.68 bln last year on record 3.97 million tourist arrivals.

According to data released Friday by the Cyprus Statistical Service (Cystat) revenue from tourism for January – August 2020, is estimated at €235.6 mln from €1.85 bln in 2019.

Tourist arrivals during the same period plummeted 84% to 424,650 from 2.7 million in the same eight months last year.

Tourism was heavily affected following the measures taken by the Cypriot government to contain the spread of COVID-19, including the ban on commercial flights from March to early June.

Since June 9, a gradual easing of travel restrictions to Cyprus was implemented, allowing arrivals from designated countries, according to their epidemiological risk categorisation.

In August, revenue from tourism was limited to €71.1 mln compared to €431.6 mln in the same of 2019, marking a decline of 83.5%.

Compared with July, revenue from tourism in August – when British tourists were allowed back with a negative COVID test — increased 67%.

Expenditure per person for August decreased by 12.5% to €681.81 compared to €779.31 in the same month last year.

Daily expenditure per person for August recorded a 36.8% decline (from €78.72 to €49.77).