According to CYSTAT data released on Thursday, tourist revenues for April 2004 recorded an increase of 7.5% to £72,067,202 compared to £67,057,677 in the corresponding month of 2003. For January-April 2004, tourist revenues dropped 0.4% compared to the corresponding period of 2003, while total tourist arrivals increased by 9.1%. It is noted that for January-March 2004, total revenues were lower by 6% compared to the corresponding period of 2003, while total tourist arrivals were higher by 6%.
For January – April 2004 tourist revenues reached £161,320,289 against £161,957,141 in 2003. Tourist revenues and arrivals for the same period recorded a drop of 13.6% and 2.2% respectively compared to 2002 and a drop of 16.7% against 2001.
First quarter insignificant for tourism
STEK General Secretary, Phidias Karis told StockWatch that there is an apparent drop in the difference between the tourist arrivals and income, but it is not satisfactory. Mr. Karis said that the Cyprus tourist product cannot become competitive within a short period of time and stressed the need to hasten the planning of the Strategic Plan so that the island attracts higher quality tourism. “At the current stage we must concentrate in the increase in revenues”, he noted.
Mr. Karis also said that the first four months of the year contribute only 20% in the tourist revenues and arrivals and we, therefore, cannot have safe conclusions for the prospects of tourism.
Similarly, Tour Operators Association General Secretary, Thasos Katsourides said that safe conclusions for the prospects of the island’s tourism in 2004 can be drawn from May onwards.
CCCI Executive Committee also requested the improvement of the tourism infrastructure, with the acceleration of the infrastructure projects, such as marinas, casinos, sports centers etc.
Statistics
Meanwhile, Louis Cruise Lines official, Giorgos Michaelides expressed doubts on whether statistics on the prospects of tourist industry are valid. Tourist arrivals from Greece, for example, are not considered as overnight stays.
Mr. Michaelides also noted that many tourists arriving in Cyprus spend their holidays in their villas or rent their residence from other foreigners. “The real picture of the Cyprus tourism can be depicted only through the overnight stays in hotels”, Mr. Michaelides concluded.
For January – April 2004 tourist revenues reached £161,320,289 against £161,957,141 in 2003. Tourist revenues and arrivals for the same period recorded a drop of 13.6% and 2.2% respectively compared to 2002 and a drop of 16.7% against 2001.
First quarter insignificant for tourism
STEK General Secretary, Phidias Karis told StockWatch that there is an apparent drop in the difference between the tourist arrivals and income, but it is not satisfactory. Mr. Karis said that the Cyprus tourist product cannot become competitive within a short period of time and stressed the need to hasten the planning of the Strategic Plan so that the island attracts higher quality tourism. “At the current stage we must concentrate in the increase in revenues”, he noted.
Mr. Karis also said that the first four months of the year contribute only 20% in the tourist revenues and arrivals and we, therefore, cannot have safe conclusions for the prospects of tourism.
Similarly, Tour Operators Association General Secretary, Thasos Katsourides said that safe conclusions for the prospects of the island’s tourism in 2004 can be drawn from May onwards.
CCCI Executive Committee also requested the improvement of the tourism infrastructure, with the acceleration of the infrastructure projects, such as marinas, casinos, sports centers etc.
Statistics
Meanwhile, Louis Cruise Lines official, Giorgos Michaelides expressed doubts on whether statistics on the prospects of tourist industry are valid. Tourist arrivals from Greece, for example, are not considered as overnight stays.
Mr. Michaelides also noted that many tourists arriving in Cyprus spend their holidays in their villas or rent their residence from other foreigners. “The real picture of the Cyprus tourism can be depicted only through the overnight stays in hotels”, Mr. Michaelides concluded.
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