Bloomberg News

Cyprus Revenue From Tourism Rises 13% to $2.3 Billion in 2011

February 15, 2012

Feb. 15 (Bloomberg) -- Cyprus’s revenue from tourism rose 13 percent in 2011 compared to a year earlier beating an earlier finance ministry forecast, the Statistical Service said.

Total revenue rose to 1.7 billion euros ($2.3 billion) last year from 1.5 billion euros in 2010, the east Mediterranean island’s statistical office said in a statement on its website today. In December, revenue gained 1.9 percent to 41.6 million euros.

The finance ministry said in April that it expected receipts from tourism, which makes up 18 percent of the euro area’s third-smallest economy and one in five jobs, would increase by 4 percent in 2011. Last year, arrivals rose 10 percent to 2.39 million. The number of Russian visitors increased 49 percent to 334,079.

--Editors: Tim Farrand, Peter Woodifield

To contact the reporter on this story: Stelios Orphanides in Nicosia at sorphanides@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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