Cyprus tourism revenue defies fall in tourism arrivals

Tourism revenue has managed to grow in 2006 despite a fall in tourism arrivals.

On the basis of the results of the Passenger Survey, revenue from tourism reached CYP 122.9 mln in October 2006 compared to CYP 120.5 mln in the corresponding month of the previous year, recording an increase of 2.0%.

For the period January-October 2006 revenue from tourism is estimated at CYP 960.9 mln compared to CYP 932.2  mln in the corresponding period of 2005.

This represents an increase of 3.1% in the first ten months of 2006, when total tourist arrivals fell by 2.4%.

The answer partly lies in who is spending the money. Average daily expenditure by Russians was CYP 57.54 per day in October 2006 and Russian arrivals have been strong this year, up 17.2% year to date, while average daily expenditure for all tourists is only CYP 44.82.