Cyprus tourism revenue drops 5.9% y/y in September

Weak sterling took its toll on tourism revenues in Cyprus as revenue dropped by 5.9% compared with the same month of the previous year in September, reaching EUR 247.4 mln, compared with EUR 263.0 mln in September 2007.
Tourism arrivals in the same month fell by 3.2%.
British tourists make up more than half of all tourists to Cyprus and daily per capita expenditure by Britons was down 10.7% year on year in September.
For the period January – September 2008 revenue from tourism is estimated at EUR 1,470.2 mln, or 4.1% lower than the EUR 1,532.7 mln recorded in the corresponding period of 2007. Total arrivals in the same period rose by 0.2%.