Insider Economy 5%-10% drop in tourism but improvement expected, hoteliers say

5%-10% drop in tourism but improvement expected, hoteliers say

Tourism is down by 5% to 10% over the previous year, but hoteliers are confident that things will change in the next few months, the Cyprus News Agency reported on Tuesday.

It said hoteliers expect recent promotion efforts to bring results and are also counting on a boost from last minute bookings.

Cyprus Hotel Association chairman Harris Loizides told the Cyprus News Agency that the situation was becoming more difficult, as shown by figures for tourism arrivals in March.

“But we are continuing our efforts to make a dynamic entry into the last minute bookings market and from there on we will see how the situation develops,” he said.

Asked about the Russian market, Cyprus’ second biggest source of visitors, he said that there were problems with specific tour operators, the rouble as well as encouragement from Russian authorities to visit Turkey and Egypt, though he anticipated that this year’s levels will be the same as last year.

The UK, which is Cyprus’ biggest market, is very affected by Brexit while the  German market has been hampered by lower airline capacity after the bankruptcy of two markets.

Cyprus tourism broke a record in both arrivals (3.93 million) and revenue €2.710 b) in 2018. But in March 2019 arrivals recorded an annual drop of 11.5%

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