In the first seven months of the year, total revenue rose 15% to €1.4bn, also an all-time high, compared to the same period last year, Cystat said in a statement on its website.

Average spending per person dropped in July 3.9% to €801.63 compared to July last year, Cystat said. This drop was mainly on a 5.9% reduction in average spending per person per day to €80.97, which was partly offset by an increase in the average length of stay by 0.2 days to 9.9 days.

British tourists reduced their average spending 4.2% to €883.70 in July and those from Russia reduced their spending 5.8% to €812.43. Visitors from Israel spent €711.39 during their entire stay which is 6.2% more compared to July 2016, Cystat said.

Britons, facing uncertainty over their decision to exit the European Union, cut back their spending per day on average by 4.2% to €81.82 in July compared to a year before, while Russians reduced their daily allowance during their Cyprus holiday 16% to €78.88, Cystat said. Israelis spent €129.34 or 3.5% less per day in July.

Directly or indirectly, tourism accounts for a quarter of Cyprus’ economy, forecast to expand 3.6% this year.

Source: Cyprus Mail