Tourist revenues sharply up in Aug First Published: 03/10/2011

Source: www.stockwatch.com.cy

Revenue from tourism increased sharply in August 2011, boosting forecasts that the tourist industry will grow faster this year and moderating the losses of the economy from other sectors.

According to Cystat data, revenue from tourism reached €267,0 mn in August 2011 compared to €241,1 mn in the corresponding month of the previous year, recording an increase of 10,7%. In July, the increase stood at 18.8%.

This is mostly attributable to the increased flow of tourists.

Tourist arrivals for the same month rose 10.8% to 337 thousand against 304.3 thousand in the corresponding month of 2010.

The spending per capita stood at €792.2 from €792.4 in August 2010.

The highest spending per capita was registered by the Americans (€1238.2), the Swiss (€1110.1) and the French (€955).

For the period January – August 2011 revenue from tourism reached €267,0 mn in August 2011 compared to €241,1 mn in the corresponding month of the previous year, recording an increase of 10,7%.

Tourist arrivals for the same period surged 12.2%.