ECONOMY

Cyprus tourism records best year since 2001

cyprus-tourism-records-best-year-since-2001

Bailed-out Cyprus recorded a 4.4 percent hike in key tourism revenue in 2015, the sector’s best earnings since 2001, official data showed on Monday.

Total tourism income on the Mediterranean holiday island reached 2.11 billion euros last year from 2.02 billion euros in 2014.

The increase was fueled by a decade-high surge of 2.1 million tourist arrivals in 2015 – a jump of 8.9 percent on the previous year.

Revenues for the month of December alone increased 20.4 percent from 43.7 million euros in 2014 to 52.6 million.

Lebanese were the biggest spenders in December at an average 136.74 euros a day, while the Swedes were the most frugal at 31.14 euros.

Income from tourism accounts for around 12 percent of the EU state’s GDP and is credited for ensuring that Nicosia did not suffer a double-digit recession post-bailout as initially feared.

[AFP]