CANCELLATION of this year's TT Races because of the foot-and-mouth outbreak, has resulted in a drop in passengers for the Isle of Man Steam Packet Company.

The number of vehicles travelling is down by 28 per cent over last year's figures, and passenger traffic has decreased by over five per cent, report the company.

A major media campaign, backed by the Manx tourist industry, has been launched to announce that the Isle of Man is still " very much open for business."