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Cyprus tourism on course for record year

Nicosia - Bailed-out Cyprus recorded a 40% hike in tourist arrivals in March, setting the stage for a record year for the holiday island and indicating an economic revival, official data showed Monday.

Tourist arrivals already hit a 14-year high in 2015 reaching 2.65 million, on the back of a cheaper euro.

"The large increase recorded in March ... shows at an early stage that this year, if something unexpected does not occur, will be the year with the highest number of arrivals in the history of Cyprus tourism," state-run Cyprus Tourism Organisation said.

"Already the first quarter recorded a strong increase of 32.4% compared to the first quarter of 2015 with nearly all markets showing growth."

Despite the euro faring better this year, experts say Cyprus is attracting more tourists because it is seen as a safe destination in a turbulent region dogged by terror attacks such as in Egypt, Turkey and Tunisia.

The number of tourists arriving on the eastern Mediterranean holiday spot in March reached 137 013 compared to 97 479 in the same month last year, an increase of 40.6%, the statistical service said.

This is mainly due to a large increase in the influx of British, German and Russian tourists.

Tourists from Britain - the island's largest holiday market - increased 44% to 59 282, while the number of German visitors jumped 73% (12 917) and Russians were up 63 percent (12 835).

Following a €10bn ($13bn at the time) international rescue package to save a crumbling economy and insolvent banks in March 2013, Cyprus returned to growth in 2015 after nearly four years of harsh recession.

Cyprus exited its bailout programme this March garnering praise from international lenders for its impressive turnaround.

Income from tourism accounts for around 12% of the EU state's GDP and is credited for ensuring that Nicosia did not suffer a double-digit recession post-bailout as initially feared.

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