Tourism Showing Positive Signs
Fresh from the Statistical Service of the Republic of Cyprus is good news showing positive signs for a turn around in the Cyprus econemy, which depends so much on tourism.
According to the figures the total arrivals for 2010 through October is 2,019,154 which is 1.7% increase over the same period last year. An increase of 60% in arrivals from Russia and 23% from Germany. Although the United Kingdom showed a decrease in arrrivals by 6%, I still see this as a good sign as just in October there was 107,729 arrivals from the U.K. The U.K. market is still Cyprus's main tourism resource and it is only a matter of time before we see the return of the Brits in record numbers.
Another good indicator is that although the total increase of arrivals through October is only 1.7%, the increase of revenues from tourism is at 3.1% through September. September also showed very strong numbers with a 10% increase over 2009.
If you go back and look at where we were last year and look at the same reports that we have here you then can understand why these figures look so promising. Last year we were looking at 11% decrease of arrivals and a 16% decrease of revenues over 2008.
Even with out any pro-active initiative to fix some of the issues that tarnish the image of the island (north/south division, title deeds and lawless developers) Cyprus will continue to move and thrive because of location.