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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition World Cyprus tourism income spikes 10 percent in September: data AFP - Saturday, November 13 Send IM Story Print Cyprus tourism income spikes 10 percent in September: data NICOSIA (AFP) - – Cyprus tourism revenue spiked 10.1 percent on an annual basis in September, official figures showed on Friday, boosting hopes the sector can aid the island's economic recovery. Revenue for September reached 220.5 million euros (302 million dollars) compared with 200.2 million euros for the same month in 2009, while income for the first nine months rose 3.1 percent to 1.27 billion euros. On average, tourists spent 73.6 euros a day, and stayed on the far eastern Mediterranean island for 10.4 days, according to the latest data. Swiss visitors were the biggest spenders at an average of 117.7 euros each day, while recession-hit Greeks were the most frugal, getting by on just 50.60 euros. Income from tourism accounts for nearly 12 percent of Cyprus's gross domestic product. It dropped to an estimated 1.49 billion euros last year from 1.79 billion euros in 2008 and 1.85 billion euros in 2007. Tourist arrivals improved 1.7 percent during the first 10 months of 2010 and 4.9 percent for the month of October, the figures showed. Arrivals up until the end of October had reached 2.01 million against 1.98 million during the same period last year. In 2009, arrivals had plunged 10.9 percent to 2.14 million, the lowest level since 1997. The recession in Europe has taken its toll on Cyprus, whose gross domestic product contracted by 1.7 percent in 2009, its worst performance since 1974. Banking on improved tourism income, the government predicts the economy will grow by at least 0.5 percent this year after kicking off an unprecedented year-long recession. Cyprus is trying to reduce a fiscal deficit that ballooned to 6.1 percent of GDP last year, which is more than double the European Union's permitted ceiling of three percent. The European Commission has put the island's finances on watch after its deficit breached the three-percent barrier, and Cyprus has until 2012 to get it back below that limit. Recommend Send IM Story Print Related Articles Autobiography of Danish Mohammed cartoonist goes on sale AFP - 45 minutes ago Godard Oscar reignites charges of anti-Semitism AFP - 1 hour 21 minutes ago US-ENTERTAINMENT Summary Reuters - Saturday, November 13 Orlando Bloom, Beth Ditto win German Bambi awards Reuters - Saturday, November 13 "Garfield" creator apologizes for Veterans Day strip Reuters - Saturday, November 13 News Search Top Stories Ireland has not asked for EU bailout: Juncker Russia's quarterly growth slows sharply due to drought Asian Games open with China set to dominate EU heavyweights move to calm bond markets German economy slows slightly after record bounce More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended EU fines 11 airlines 800 million euros for air cargo cartel DNA test raises doubts over Texas man's execution Boeing blames Dreamliner fire on faulty power panel Acrimony as EU budget negotiations collapse Irish bond rates hit record highs, fanning debt crisis fears More Most Viewed » Alcohol more harmful than heroin, crack cocaine: study Toddler survives seven-floor fall in France Spectacular unknown species found in Amazon EU fines 11 airlines 800 million euros for air cargo cartel Be fit, have fewer colds: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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