NICOSIA - Revenues in Cyprus's vital tourism sector plunged 11.7 percent in the first five months of the year, signalling a rocky year ahead amid the global recession, official figures showed on Monday.
Tourism revenues, which form 12 percent of GDP fell to an estimated 390.4 million euros in the five months to May from 442.3 million euros last year.
In May revenue from holidaymakers declined by a greater 17.3 percent sinking to 158.1 million euros from 191.3 million in the same month of 2008.
Tourism income for last year as a whole fell 3.5 percent to 1.79 billion euros from 1.85 billion euros in 2007.
Average daily spending by tourists in May was 70.5 euros and the average stay was 9.1 days.