InsiderEconomyLack of tourism causes problems for retail market

Lack of tourism causes problems for retail market

Retail salesmen in Protaras and Ayia Napa express concerns over reduced sales as the retail market in tourist areas is failing.

Representative of the Cyprus Confederation of Professional Craftsmen and Shopkeepers (POVEK) Kyriakos Ambizas explained that contributing factors to the deteriorating situation of the retail market include the low number of tourists coming to Cyprus, as well as the fact that those tourists appear to be of low income and cannot afford to spend much on shopping.

Ambizas also noted that this lack of activity in retail shops is unprecedented and the situation is unlikely to improve, even with Cypriot holidays commencing in August.

Ambizas further said that members of POVEK are under constant financial pressure and are receiving notices of eviction and seizure due to failing to pay their loans.

In one particular case, a retail shop chain in Protaras and Ayia Napa noted their daily income as €87 in one shop and nothing in the other three.

Ambizas also explained that the aforementioned problems are expected to worsen with the end of the tourist season.

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