News Local Cypriots spend more on restaurants and hotels than most Europeans

Cypriots spend more on restaurants and hotels than most Europeans

In 2017, households in the European Union (EU) spent 8.8% of their total consumption expenditure on “restaurants and hotels”. This represents a total expenditure of almost €740 bn, equivalent to 4.8% of EU GDP or €1400 per EU inhabitant. A more complete overview of household final consumption expenditure, broken down by consumption purpose, is available in this interactive infographics.

Malta, Cyprus and Spain spend highest share of household expenditure on restaurants and hotels

In the EU in 2017, the share of household expenditure devoted to “restaurants and hotels” was largest in Malta (20.2%), Cyprus (17.5%) and Spain (16.8%) ahead of Greece (15.4%) and Ireland (14.8%). At the opposite end of the scale, Romania (3.1%), Poland (3.6%) and Lithuania (3.7%) spent the lowest share of their household expenditure on “restaurants and hotels”.

The source dataset can be found here.

Share of expenditure on restaurant and hotels increased mainly in Malta

Between 2007 and 2017, the share of “restaurants and hotels” in total household expenditure grew in most Member States. In particular, the highest increase over this 10-year time period was recorded in Malta (from 15.5% of total household expenditure in 2007 to 20.2% in 2017, or a rise of 4.7 percentage points – pp) ahead of Hungary (+2.8 pp) and Cyprus (+2.7 pp). In contrast, the share of “restaurants and hotels” in total household expenditure dropped between 2007 and 2017 in Romania (from 5.0% in 2007 to 3.1% in 2017, or a decrease of 1.9 pp), followed by Slovakia (-0.6 pp) and Finland (-0.1 pp), while it remained stable in Spain.

Read more:

https://in-cyprus.com/news/local/what-do-cypriots-spend-their-money-on/

Top Stories

Confirmed COVID-19 cases in Ygia Polyclinic

Ygia polyclinic is informing the public that due to the fact that a small number of COVID-19 cases have been found among the staff...

President Anastasiades will not resign

President Nicos Anastasiades will not betray the decision of the big majority of the citizens and will complete his term, as the Constitution and...

Citizens request the resignations of those involved in illegal passports’ case

In an announcement, organized groups of people are requesting the immediate resignation of politicians directly or indirectly involved in the issuing of Cypriot passports...

New measures announced by Health Minister due to increase in number of COVID-19 cases

Face masks must be worn outside at all times, the Cabinet decided on Thursday. Moreover, stricter measures apply in all districts and partial lockdown...

Hospitals not ready to deal with second wave of pandemic

Hospitals and clinics are not ready to deal with the second wave of the pandemic due to the fact that they are understaffed, President...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...