According to CYSTAT data released on Monday, July tourist revenues recorded a sharp drop of 11.4% to £135.1 million against £152.4 million in the corresponding month of 2003. For January – July 2004, tourist revenues fell 3.2% to £505.2 million compared to £521.7 million in the corresponding period of 2003.

Tourist revenues for January – July 2004 are 25% less than the corresponding revenues of 2001.

The CTO and the Finance Ministry anticipate that tourist arrivals will show an increase of 5% in 2004, while revenues will show a slight improvement compared to 2003. Tourist arrivals for January – July increased by 4.7%.