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Economy

March tourism revenue dips 12.2%

May 31, 2019 at 1:06pm
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Revenue from tourism in March slipped to €96.m from €110.0 m in the same month the previous year — a drop of 12.2% according to figures published by Cystat on Friday on the basis of the results of the Passenger Survey.

This is a slightly bigger decrease that the 11.5% annual drop in tourist arrivals for the same month due to fewer visitors from the UK, Greece and Germany.

For the period of January – March 2019 revenue from tourism is estimated at €188.6 m compared to €201.1 m in the corresponding period of 2018, recording a decrease of 6.2%, it added. Tourism arrivals for the same period were down 3.2%.

Expenditure per person for March 2019 reached €568.19 compared to €572.48 in the corresponding month of the previous year, recording a decrease of 0.7%. The expenditure per person/per day for March 2019 compared to March 2018 also recorded a decrease of 0.7% (from €68.97 to €68.46). The average length of stay remained the same as last year (8.3 days).

The expenditure per person for the period of January – March 2019 reached €527.64 compared to €544.36 in the corresponding period of the previous year, recording a decrease of 3.1%. The expenditure per person/per day for the period of January – March 2019 compared to the period of January – March 2018 recorded an increase of 0.4% (from €62.57 to €62.81).

The Lebanese were the biggest spenders in terms of daily spending in March 2019 with €122.35, followed by the Israelis with €115.22 spent a day. The Greeks were the most frugal with €44.74. Britons, Cyprus’ biggest market,  spent a little below the average of €68.46  with daily expenditure of €61.27. Russians, the second biggest market, spent 72.93 per person per day.

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