According to CYSTAT data released on Wednesday, tourist revenues for July dropped 5.2%, which compares favourably to the drop of 23% and 18% in May and June respectively.
Specifically, tourist revenues for July 2003 reached CYP 152.4 million compared to CYP 160.7 million in the corresponding period of 2002. For the period January-July, tourist revenues recorded a drop of 13.9% or CYP 84 million against the corresponding period of 2002, while for January-June they suffered a decline of 17.1%.
Tourist revenues for July seem to follow the upward trend of the tourist arrivals as, despite the drop of 2.8% against July 2002, they compare favourably to the drop of the previous months. Tourist arrivals for January-July dropped by 10% against a drop of 13.9% in the tourist revenues, reflecting the lower tourist packages offered by the hoteliers.
The latest CYSTAT figures confirm the forecasts of the Finance Ministry and the Planning Office for a gradual recovery of the tourist industry and show that the negative impacts from the war in Iraq and SARS have been overcome.
Specifically, tourist revenues for July 2003 reached CYP 152.4 million compared to CYP 160.7 million in the corresponding period of 2002. For the period January-July, tourist revenues recorded a drop of 13.9% or CYP 84 million against the corresponding period of 2002, while for January-June they suffered a decline of 17.1%.
Tourist revenues for July seem to follow the upward trend of the tourist arrivals as, despite the drop of 2.8% against July 2002, they compare favourably to the drop of the previous months. Tourist arrivals for January-July dropped by 10% against a drop of 13.9% in the tourist revenues, reflecting the lower tourist packages offered by the hoteliers.
The latest CYSTAT figures confirm the forecasts of the Finance Ministry and the Planning Office for a gradual recovery of the tourist industry and show that the negative impacts from the war in Iraq and SARS have been overcome.
3287.99
1275.09
