According to CYSTAT data released on Monday, tourist arrivals for July 2003 reached 318 thousand compared to 327 thousand in the corresponding month of 2002, recording a drop of 2.8%.
For the period January-July 2003, tourist arrivals have recorded a drop of 10% compared to the corresponding period of 2002.
The latest figures confirm Finance Ministry’s forecasts for a small decline in July arrivals and enhance expectations that August will show an improvement, reflecting a small but stable recovery.
The figures also confirm the forecasts of the international agencies, according to which, British reservations would increase in July compared to the corresponding month of 2002. CYSTAT revealed that British tourist arrivals increased by 2.4% in July, recording a decrease of -4% for the period January-July 2003. Greek tourist arrivals for July increased by 18%.
On the other hand, Germany is still this year’s weakest link, reporting a decline in tourist arrivals of 10.5%. (-34% for January-July 2003).
PASYXE: There is a recovery trend
PASYXE Chairman, Zacharias Ioannides told StockWatch on Monday that there is a trend of comparative recovery in tourism, but “the decrease still remains at particularly high levels”.
According to CYSTAT figures, July 2003 arrivals have dropped by 15% compared to July 2001, while for the period January-June 2003 tourist arrivals have reported a decline of 22% compared to the corresponding period of 2001.
“The increase in tourist revenues is expected to be higher due to the sell out to the foreign tourist agents, Mr. Ioannides added.
Strategic plan left on hold for five year
Mr. Ioannides said that the drop in the tourist industry is “structural” and not “a conjecture” and is attributable to the deterioration of Cyprus' competitiveness. “Foreign tourist agents have warned us that certain destinations are more competitive and they already invest on them”, Mr. Ioannides noted.
“The Cyprus tourist industry stands before serious structural problems, which need direct solutions. It has been five years now that the strategic plan for the restructuring of the tourist industry, which includes the proposals of foreign experts, has been left on hold”, Mr. Ioannides concluded.
For the period January-July 2003, tourist arrivals have recorded a drop of 10% compared to the corresponding period of 2002.
The latest figures confirm Finance Ministry’s forecasts for a small decline in July arrivals and enhance expectations that August will show an improvement, reflecting a small but stable recovery.
The figures also confirm the forecasts of the international agencies, according to which, British reservations would increase in July compared to the corresponding month of 2002. CYSTAT revealed that British tourist arrivals increased by 2.4% in July, recording a decrease of -4% for the period January-July 2003. Greek tourist arrivals for July increased by 18%.
On the other hand, Germany is still this year’s weakest link, reporting a decline in tourist arrivals of 10.5%. (-34% for January-July 2003).
PASYXE: There is a recovery trend
PASYXE Chairman, Zacharias Ioannides told StockWatch on Monday that there is a trend of comparative recovery in tourism, but “the decrease still remains at particularly high levels”.
According to CYSTAT figures, July 2003 arrivals have dropped by 15% compared to July 2001, while for the period January-June 2003 tourist arrivals have reported a decline of 22% compared to the corresponding period of 2001.
“The increase in tourist revenues is expected to be higher due to the sell out to the foreign tourist agents, Mr. Ioannides added.
Strategic plan left on hold for five year
Mr. Ioannides said that the drop in the tourist industry is “structural” and not “a conjecture” and is attributable to the deterioration of Cyprus' competitiveness. “Foreign tourist agents have warned us that certain destinations are more competitive and they already invest on them”, Mr. Ioannides noted.
“The Cyprus tourist industry stands before serious structural problems, which need direct solutions. It has been five years now that the strategic plan for the restructuring of the tourist industry, which includes the proposals of foreign experts, has been left on hold”, Mr. Ioannides concluded.
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