Quoting travel industry analyst GfK, The Telegraph, said bookings recorded a 43 per cent drop in March, mainly because of capital controls imposed by authorities to prevent bank runs following a Eurogroup decision to raid deposits as part of the island’s bailout.

One operator, Sovereign Luxury Travel, reported a 100 per cent rise in bookings in recent weeks, compared with March, the newspaper said.

“We’ve seen a real turnaround for Cyprus and bookings have really picked up,” said Steph Pritchard, the company’s managing director, according to The Telegraph. “This can be attributed in part to some really alluring offers in the market.”

The daily said a number of tour operators and agents were offering discounts of 30 per cent or more on packages to the Cyprus, while Sovereign has cut the cost of one-week breaks for a family of four at the five-star Le Meridien Limassol Spa & Resort by more than £1,800 (down from £6,179).

Source: Cyprus Mail