Insider Business Tourism revenue up 4% in first half of 2018

Tourism revenue up 4% in first half of 2018

Revenue from tourism in Cyprus was up by 4% or €38.5 million on an annual basis in the first half of this year compared with the first six months of 2017, despite a drop in the per capita expenditure of tourists. In June alone revenue was up by 3%.

Commenting on the latest figures, the Cyprus Tourism Organisation (CTO) assured that it will “continue intensive efforts to attract tourists of a high income class, aiming to increase revenue and arrivals at the same time.”

CTO also stresses the need to “decisively deal” with challenges which have an impact in the experience offered to tourists in Cyprus such as noise pollution, lack of taste in presentation, illegal interventions in facades of buildings, tasteless signs, touting problems, profiteering, and matters pertaining to cleanliness and orderliness.

On the basis of the findings of the Passenger Survey, revenue from tourism in June 2018 was €357.7 million compared to €347.2 million in June last year, recording an increase of 3.0%, a Cyprus Statistical Service said.

For the period of January – June 2018 revenue from tourism is estimated to be €1.0349 billion compared to €996.4 million at the same period of last year, recording an increase of 3.9%.

The per capita expenditure of tourists in June 2018 came to €699.88 compared to €734.89 in June 2017, recording a drop of 4.8%.

The per capita / per day expenditure of tourists in June 2018 compared to June 2017 also recorded a drop of 2.7%. A drop of 2.2% was observed in the average duration of stay from 9.3 days in June 2017 to 9.1 days in June 2018.

The per capita expenditure of tourists in the first six months of 2018 reached €629.04 compared to €680.95 at the same period of last year, recording a drop of 7.6%.

The per capita / per day expenditure of tourists for the first half of this year recorded a drop of 4.4% down from €75.66 in the first six months of last year to €72.30.

According to the CTO the accommodation and catering services index also recorded an increase of 10.5% in the first half of 2018 compared with the same period of 2017.

The turnover index for accommodation services for the first six months of this year was up by 11.4% while for catering services it was up by 9.7%, it adds.

(Cyprus News Agency)

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