Despite the increase in tourist arrivals, tourist revenues continued their downward trend in 2004, reaching £980 million against £1.3 billion in 2001, Chairman of Cyprus Tour Operators Association, Adamos Varnava stated on Tuesday, at the annual general meeting of the Association.

Mr. Varnava said that the drop in tourist arrivals is mostly attributable to the wars, the terrorist attacks, the economic recession and the promotion of new tourist destinations.

As for the drop in tourist revenues, this is attributable to the increased competition that forces Cypriot hoteliers to reduce their prices. Mr. Varnava also emphasized the delays in the construction of golf courts and casinos.

“It is necessary to take the proper measures in order to improve the quality of the services offered, such as the withdrawal or improvement of beds and the restoration of the high quality services”, he concluded.