Tourist Arrivals Up In March After 15 Month Slide
A boost in holiday makers from Britain and Germany helped Cyprus tourist arrivals increase by 14.8% in March from a year earlier, officials figures showed.
It is the first increase in tourist and welcome news for a tourism-de-pendent economy still in recession.
The last time arrivals were in positive territory was November 2008.
Arrivals were 103,803 against 90,434 in March 2009.
For the first quarter ending in March the number of arrivals rose by 5,6% from 194,127 last year to 205,006.
In 2009,arrivals plunged 10,9% to 2,14 million holidaymakers-the lowest level of tourists since 1997.
The recession in Europe has taken its toll on the island whose economy contracted by 1,7% in 2009 but may see marginal 0,5% growth this year.
Tourism contributes around 12% of the island’s GDP, and the majority of visitors come from European countries badly hit by the global downturn .
There was a 5,7% increase in arrivals from Britain (43,426), the island’s largest source of holidaymakers, and a 20,1% improvement from Germany (15,391).
However, the number of French tourists (1,182) fell by 27,7%, plus a 19,8% decrease from The Netherlands (1,180).
Tourism authorities are bracing for a difficult 2010, estimating that arrivals may reach the same lower levels as last year.
However, these latest figures offer some optimism of a better 2010.
Income from tourism fell to an estimated euro1,49b in 2009 from euro1,79b in 2008 and euro1,85b in 2007.
Bumper tourism revenues helped Cyprus achieve GDP growth of 4,4% in 2007 and 3,7% in 2008.
Cyprus’s economy has been shrinking since the first quarter of 2009 after decades of continuous robust growth.
The struggling tourism sector has sparked fears of a rise in unemployment, which could reach an unprecedented 7% or more.
The government is trying to reign in a ballooning fiscal deficit which it concedes will be double the 3% of GDP set by Brussels projecting it to be 6,1% this year.
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