Cyprus tourism revenue falls further than arrivals in 2009

Tourism revenue in Cyprus fell for the second year in a row in 2009, dropping by 16.7% to EUR 1.49 bln, from EUR 1.79 bln in 2008 and EUR 1.86 bln in 2007.
Following the pattern of the past two years, revenue fell more steeply than arrivals, which dropped by 10.9% in 2009 and 0.5% in 2008.
The drop in tourism revenue is partly related to the fall in the value of sterling against the euro. The UK accounts for around half of all tourists.
In December alone, the Statistical Service’s Passenger Survey showed that revenue from tourism reached EUR 42.7 mln in December 2009 compared with EUR 51.6 mln in December 2008, recording a decrease of 17.3%.