Despite forecasts that the Cyprus tourist industry will recover for 2004, the signs for the next tourist season continue to be negative. According to AC Nielsen latest figures, British reservations stood at -13% for the winter season and at -34% for the next summer season in late October compared to -16% and -34% in late September.
Meanwhile, Finance Ministry insists on its forecasts for the increase in tourist arrivals by 5% in 2004. “The Nielsen figures are indeed negative, but despite its positive forecasts last year, we suffered a drop in 2003” a Ministry official told StockWatch. In October 2002, Nielsen anticipated an increase of 15% in winter reservations and an increase of 34% in summer reservations.
“The behaviour of tourists has changed. We have a number of last-minute reservations, so any forecasts are risky”, a CTO official emphasized.
After the report of the World Travel Market of London, there are signs that British reservations, which are 60% of the total tourist arrivals in Cyprus, might remain at the same level as this year. Cyprus is now focused on the markets of the Central and Eastern Europe, aiming at reversing the negative climate. CTO officials have already scheduled their contacts with several tour operators from these countries.
PASYXE - STEK
The negative situation in the tourist industry seems to have affected the two Hoteliers’ Associations, PASYXE and STEK, who after a joint meeting on Monday, decided to intensify their attempts to boost reservations and increase domestic tourism.
On a joint announcement, the two Associations have requested the abolition of the “anti-European tax of 3% for CTO”.
According to the latest data, tourist arrivals for January-October suffered a drop of 6.1% and tourist revenues for January-September fell 10.5%. Tourism is 22% of the Cyprus GDP.
Meanwhile, Finance Ministry insists on its forecasts for the increase in tourist arrivals by 5% in 2004. “The Nielsen figures are indeed negative, but despite its positive forecasts last year, we suffered a drop in 2003” a Ministry official told StockWatch. In October 2002, Nielsen anticipated an increase of 15% in winter reservations and an increase of 34% in summer reservations.
“The behaviour of tourists has changed. We have a number of last-minute reservations, so any forecasts are risky”, a CTO official emphasized.
After the report of the World Travel Market of London, there are signs that British reservations, which are 60% of the total tourist arrivals in Cyprus, might remain at the same level as this year. Cyprus is now focused on the markets of the Central and Eastern Europe, aiming at reversing the negative climate. CTO officials have already scheduled their contacts with several tour operators from these countries.
PASYXE - STEK
The negative situation in the tourist industry seems to have affected the two Hoteliers’ Associations, PASYXE and STEK, who after a joint meeting on Monday, decided to intensify their attempts to boost reservations and increase domestic tourism.
On a joint announcement, the two Associations have requested the abolition of the “anti-European tax of 3% for CTO”.
According to the latest data, tourist arrivals for January-October suffered a drop of 6.1% and tourist revenues for January-September fell 10.5%. Tourism is 22% of the Cyprus GDP.
3287.99
1275.09
