According to CYSTAT data released on Monday, tourist revenues for February 2004 recorded a drop of 19.1%, exceeded the drop in tourist arrivals for the same period, which amounted to 2.9%.
Specifically, tourist revenues for February 2004 reached £25.4 million against 31.2 million in the corresponding month of 2003, while tourist arrivals reached 75,705 compared to 77,972 in February 2003.
The difference between the tourist revenues and arrivals is attributable to the tourists’ reduced expenditure per capita. The average tourist spent £336 in February 2004 against £403 in the corresponding month of 2003 (-16.6%).
For January-February 2004, tourist revenues stood at £47.2 million compared to £57.1 million in the corresponding period of 2003, recording a slump of 17.29%.
The Finance Ministry and CTO anticipate that tourist industry in 2004 will recover, with tourist arrivals and revenues increasing by 5% and 7% respectively.
Specifically, tourist revenues for February 2004 reached £25.4 million against 31.2 million in the corresponding month of 2003, while tourist arrivals reached 75,705 compared to 77,972 in February 2003.
The difference between the tourist revenues and arrivals is attributable to the tourists’ reduced expenditure per capita. The average tourist spent £336 in February 2004 against £403 in the corresponding month of 2003 (-16.6%).
For January-February 2004, tourist revenues stood at £47.2 million compared to £57.1 million in the corresponding period of 2003, recording a slump of 17.29%.
The Finance Ministry and CTO anticipate that tourist industry in 2004 will recover, with tourist arrivals and revenues increasing by 5% and 7% respectively.
3287.99
1275.09
