Nicosia: Tourism revenue is providing a much-needed boost for the beleaguered Cyprus economy as June receipts increased 15.7 per cent on the same month in 2011, official data showed on Monday.

Revenue in June reached €254.5 million (Dh1.16 billion) compared to €220 million in the same month last year — a rise of €34.5 million as arrivals also improved annually by 9.7 per cent.

Tourism income from January to June reached €645.7 million but this excludes March, for which no official figures were collected.

Revenue from tourism in March 2011 was €66.4 million, contributing to a €676.9 million total for the first six months of that year.

The average daily amount spent by tourists this June was €81.50 while the average stay was 9.5 days.

A year ago the average stay was 9.4 days while daily average spending was a lower €78.10.

Israelis were the biggest spenders this June, averaging €145.90 a day, while the recession-hit Greeks were the most frugal spending €50.80.

Annual tourism revenue in Cyprus rose to its highest level for three years in 2011 reaching €1.749 billion despite the financial crisis.

The 12.9 per cent jump in revenue compared to the 2010 figure of €1.54 billion was close to official targets of €1.8 billion for the year.

This was made possible by a 10.1 per cent increase in tourist arrivals last year boosted by holidaymakers from Britain, Russia and Germany.

Tourism industry officials are confident that 2012 can maintain this level of income, especially with in a bigger influx of high-spending Russians and Germans.

The surge in revenues suggests that Cyprus is still benefiting from political turmoil in the Middle East as holidaymakers seek alternative family-friendly destinations.

Improved tourism income is one of the few bright spots for Cyprus’s struggling economy as Greek exposed banks are surviving on state aid.

Nicosia is currently negotiating a bailout with European Union officials after entering the support mechanism in June.

Moreover June revenues are up 45.1 per cent on 2009 levels when the financial crisis began to bite.

Income from tourism accounts for nearly 12 per cent of Cyprus’s GDP.

Holidaymakers to Cyprus hit a high of €2.69 million in 2001, spending a record €2.17 billion.

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AFP