Cyprus tourism recovered well shaking off the stiff economic turmoil

The tourism economy of Cyprus showed enterprising curves in 2013 although the country went through a stiff fiscal year. Recovering from the shocking collapse of the banking system for

almost two weeks, the new tourism revenue system contributed to the nine percent of tourism revenue in Cyprus.

 
According to a state passenger survey, the international arrival figures show a 2.4 percent dip in 2013. The famous holiday island witnessed 2.4 million tourists in 2013 where as it recorded 2.46 million in 2012. All banks were shutdown for two weeks while Cyprus is the only eurozone member to still enforce capital controls.Tourism officials said yesterday the results were positive considering the unprecedented Eurogroup haircut decision in March while 2014 is expected to show an improvement.

“Despite a slight decrease recorded in 2013 it is considered a very satisfactory year after the decisions in March when arrivals fell 70 percent in some cases,“ Cyprus Tourism Organisation chief Marios Hannides said in statements to the media.

In December alone arrivals fractionally increased 0.1 percent to 54,813 from 54,772 in the same month of 2012. It was only the third month in positive territory for 2013.
Last month there were fewer holidaymakers from mainstay countries Greece (7,577) plunging 16.3 percent and Russia (5,664) down 9.1 percent compared to the previous year.
There was resurgence in British tourists in December increasing 1.6% from 16,847 to 17,115 in December 2013. Arrivals in 2012 increased 3% reaching 2.46 million visitors from 2.39 million for 2011.

The largest annual fall in tourist arrivals was a 31.5 percent plunge from Germany, followed by a 21.1 percent dip from Greece and a 7.1 percent drop from Britain – the island’s biggest market.
Greece is the island’s third biggest tourist market with 104,955 visiting in 2013.
Only a sharp 28.3 percent spike in high-spending Russians in 2013 prevented a steeper drop in visitors when the bailed-out economy needs them most.

Russia is now the island’s second largest tourist market (608,581) behind first place Britain (891,233).

 
Although tourist arrivals are down, 1.95 billion euro revenue for 2013 in the first ten months has surpassed total tourism income for 2012. Full year tourism income for 2013 will be announced on Friday.