CTO: 10,5% increase in tourist revenues

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With the very significant increase of tourist revenues of August 2015 by 10,5% compared to August 2014, the positive trend of revenues for the second half of the year has been confirmed, since according to the official data of the Statistical Service the revenues of August 2015 was € 358,5 million compared to € 324,3 million in August 2014, the Cyprus Tourism Organization (CTO) said in a statement.

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On this occasion, the CTO calls on the various critics and those who had rushed to draw prematurely negative and pessimistic conclusions regarding the course of the tourist performance of the year and especially the revenue, to be more careful and patient, avoiding 'findings' when they try. , since deliberate risk-taking and negativity only cause harm to the sector.

Regarding the analysis of the results, the very satisfactory increase in revenue for August 2015 is due to the increase in expenditure per traveler by 5,2% (from € 869 in August 2014 to € 914 in August 2015) and the increase in tourist arrivals by 5,1% (from 373.086 to 392.272). Further analysis of the expenditure per traveler shows that the increase is entirely due to the increased by 10,2% daily expenditure (from € 79,3 per day in August 2014 to € 87,5 in August 2015), since the average length of stay was reduced by 4,6% (from 11,0 days to 10,5 days) for this month.

Revenues for the eight months of January - August 2015, there is a positive reversal as they increased by 0,5% compared to the corresponding period of 2014, due to the increased tourist flow of the period (increase of 6,2% in tourist arrivals).

Taking into account the increased tourist flow in September, as well as the estimates for the rest of the year, the CTO expects that the total revenues from tourism for 2015 will close with a positive sign.

"The CTO, despite these very encouraging results, is not complacent and will continue its hard work and hard work with the same enthusiasm and dedication to the task in close cooperation and coordination with all tourism partners," it said.

The Organization emphasizes once again the importance of tourism revenues in the great and joint effort for economic recovery and development, especially taking into account the multiplier benefits of tourism and its impact on other sectors of the Cypriot economy.