You didn't mention the flaws, but what he did reveal is pride and hubris and things like that. He is proud that he was smart enough to trick the Cyclops so he decides to boast and flaunt his victory which backfires later when Cyclops calls his father, Poseidon. If he hadn't behaved like that he would've escaped much easier.
its in the urban dictionary
A decrease in the number of foreign tourists means, among others, the decrease in the revenue from tourism. Additionally, this will mean that the infrastructure in the touristy areas will get worse, as there will be less incentive to upkeep it. Businesses will earn less and some businesses might disappear altogether.
Generally, the effect on the region would be negative.