Cruises for January – May 2004 showed a significant improvement, after the consecutive shocks that the sector experienced due to the political instability in the Middle East for the past few years. The number of travelers for January – May 2004 compares favourably to the corresponding period of 2003 and 2002 but unfavourably with 2001, since it recorded a drop of 19.5%.

Tourists are tight-fisted

Louis Cruise Lines Marketing Manager, Giorgos Michaelides told StockWatch that cruise ships are not full, while the increased number of passengers in the aforementioned period is not enough for the cruise industry, which expects better days in the summer season. “Tourists do not stay long in Cyprus and they don’t spend much money for cruises”, Mr. Michaelides said.

Cypriots are not

Cypriots, however, are still keen on cruises and they are not daunted by the concerns that tourist have on their security. “The recent terrorist attacks have made tourists more reserved”, Mr. Michaelides concluded.