NICOSIA, Nov. 24 (Xinhua) -- Cyprus is expected to set a new tourist record this year by attracting more than 4 million tourists by the end of this year, Cyprus Tourism Organization Chairman Angelos Loizou said on Saturday.

He told state radio that arrivals increased 7.8 percent by the end of the third quarter of this year, reaching 3.67 million, adding that judging by reservations, they will exceed 4 million at the end of 2018.

Tourism has for some time become the largest economic sector of the eastern Mediterranean island and helped its economy recover after the 2013 crisis that forced the country into a 10-billion-euro bailout.

Tourism's contribution to the annual economy of Cyprus exceeded 4 billion euros or about 22 percent of the total. Loizou said that he expected tourism to grow by a lower percentage over the next few years and its contribution to the economy to reach 6.4 billion euros or about 29 percent of the Gross Domestic Product.

By that time, Cyprus will receive five million tourists a year, almost five times its population, he added.

The importance of tourism for Cyprus was reflected in a decision to appoint an under secretary to lead the Tourism Organization. The first Under Secretary of Tourism will be announced soon and take over duties as of January 2019, according to the official. Enditem

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