Cyprus registers robust 24.5% hike in tourism receipts in March 2016

Published on : Thursday, June 2, 2016

cyprusCyprus registered a significant increase of 24.5% in tourism receipts in March 2016 amounting to €80.9 million as compared to €65.0 million in the corresponding month of the previous year, according to passenger Survey results announced Monday by the Statistical Service of Cyprus.

 
In terms of revenue this is the best March from 2005 onwards.

 
The largest increase has been recorded from tourist arrivals from Britain, amounting to 59,282 tourists in March 2016 compared to 41,149 tourists in the corresponding month of 2015. However, their per capita expenditure decreased to € 647 from € 707 in March 2015.
A significant increase was also recorded in arrivals from Germany (12,917 in March 2016 compared to 7,443 in March 2015) and Russia (12,835 in March 2016 compared to 7,855 in March 2015). The per capita expenditure decreased both for tourists from Germany (€ 634 from € 744 in 2015) and for tourists from Russia (€568 from € 841 in 2015).

 
The tourism revenue growth, however, was not commensurate with the increase in arrivals in March 2016 by 40.6%, compared to the same month of 2015. This is due to the drop in total per capita expenditure, which in March 2016 fell to € 590 from € 667 in March 2015.

 
For the period January – March 2016 revenue from tourism is estimated at €147.6 million compared to €124.3 million in the corresponding period of 2015, recording an increase of 18.7%.

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