Despite the marginal drop of 0.2% in tourist arrivals in May, the tourist revenues recorded a sharp increase of 6.1%, boosting the expectations of the Cyprus Tourism Organization for the attraction of quality tourism. The hoteliers believe that the increased revenues in May is a significant development, however, things were totally different five years ago.

Revenues of £111.9 million

According to CYSTAT data, the tourist revenues in May stood at £111.9 million against £105.4 million in the corresponding month of 2005.

In January-May 2006, the tourist revenues recorded an increase of 4% (despite the drop of 2.5% in the arrivals) to £269.6 million against £259.2 million in the corresponding period of 2005.

CTO: Average spending per tourist increases

“Our target for the attraction of quality tourism has been partly achieved. Despite the slight drop in tourist arrivals in the first five months of the year, the revenues have showed an increase of 4%. We are pleased to say that the average spending per tourist has increased (daily by 5.7% and average duration of stay by 0.8%). This is a result of the collective effort of all organizations in the tourist industry and a proof that the Strategic Plan for tourism is being enforced”, CTO official, Alekos Orountiotis told StockWatch.

PASYXE

PASYXE General Manager, Zacharias Ioannides expressed his content for the “encouraging” increase in tourist revenues but emphasized that things have changed compared to 2001. “The revenues for January-May 2006 are 22% lower compared to those of 2001, when they stood at £333 million”, Mr. Ioannides told StockWatch.