Cyprus hit by fall in British tourists

NICOSIA (Reuters) - Cyprus's revenues from tourism fell 10.8 percent in February year-on-year, amid a general decline in arrivals expected to fall by at least 10 per cent in 2009.

For the January-February period combined, revenue was down 11.1 percent, and arrivals were down 14.2 percent, the island's statistics service said.

Tourism represents about 11.0 percent of Cyprus's gross domestic product, with more than two million visiting the east Mediterranean island annually.

The economic growth outlook this year has been trimmed to around 2.0 percent, from 2008 GDP growth estimates of 3.7 percent, on forecasts of a 10 percent drop in tourism and weaker construction activity.

Bookings from Britain, the island's main market, are down between 20 and 30 percent, hurt in part by the exchange rate of the sterling against the euro.

(Editing by Stephen Nisbet)