Income from tourism has started to move upwards with official data recently showing that tourist spending in February 2014 increased 10.5% on the same month last year.
Tourism income in February 2014 rose to €31.3 million from €28.3 million in the same month of 2013. This follows a fractional 0.5% dip in January.
In 2013 bailed out Cyprus overcame financial meltdown brought on by a banking crisis to record an 8% hike in tourism revenue.
Despite annual tourist arrivals dipping 2.4% to 2.4 million in 2013, revenue generated from holidaymakers increased to €2.08 billion – its highest level for more than a decade – from €1.92 billion in 2012.
Source: InCyprus
