Cyprus tourism records best year since 2001

Thursday, 3 March 2016 00:00 - - {{hitsCtrl.values.hits}}

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

Total tourism income on the Mediterranean holiday island reached 2.11 billion euros ($2.29 billion) last year from 2.02 billion euros in 2014.

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

Revenues for the month of December alone increased 20.4 % 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.

In 2014, Cyprus tourism generated 2.02 billion euros, a 2.8 % drop from 2013’s 2.08 billion euros. It was the first dip in receipts since 2009.

Following a 10-billion-euro international rescue package to save a crumbling economy and insolvent banks in March 2013, Cyprus returned to growth in 2015 after nearly four years of harsh recession.

The number of holidaymakers to Cyprus hit a record high of 2.69 million in 2001, spending a record 2.17 billion euros.

Income from tourism accounts for around 12 % 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.