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Non-Cypriots Overrepresented At Both Ends Of Cyprus’ Pay Scale

by THEFUTURE.TEAM

July 30, 2026

Cyprus’ average monthly earnings rose in the first quarter of 2026, according to provisional figures released on Wednesday by the Cyprus Statistical Service (Cystat). Distribution data published alongside the averages showed that most employees earned below the headline figure, reflecting differences across income groups, gender and nationality.

Average Pay Continues To Rise

Average gross monthly earnings for employees in Cyprus reached €2,601 in the first quarter of 2026, compared with €2,508 in the same period a year earlier, an annual increase of 3.7%.

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After seasonal adjustment, average gross monthly earnings stood at €2,652, up 0.8% from the fourth quarter of 2025. By comparison, the unadjusted average reached €2,932 in the previous quarter, reflecting year-end bonuses and other seasonal payments.

Most Employees Earn Below The Average

Distribution data showed that 40.9% of employees earned between €1,500 and €2,999 per month, making it the largest income group. A further 33.9% earned less than €1,500.

Only 13.1% of employees earned between €3,000 and €4,499, while 6.4% received between €4,500 and €5,999. At the upper end of the scale, 5.7% earned €6,000 or more.

Gender Gap Persists

Men continued to earn more than women on average. Male employees recorded gross monthly earnings of €2,776 in the first quarter, compared with €2,378 for female employees.

On an annual basis, men’s earnings increased by 3.3%, while women’s earnings rose by 4.2%. After seasonal adjustment, average monthly earnings reached €2,823 for men and €2,434 for women.

Compared with the previous quarter, seasonally adjusted earnings increased by 0.7% for men and 1.0% for women.

Earnings Vary By Nationality

The distribution of earnings also differed by nationality. Cypriot employees were more concentrated in the middle income bands, while non-Cypriot employees accounted for larger shares at both the lower and upper ends of the pay scale.

Among Cypriot employees, 45.2% earned between €1,500 and €2,999 per month, while 27.4% earned less than €1,500. Among non-Cypriot employees, 46.7% earned below €1,500, and 32.6% fell into the €1,500 to €2,999 bracket. At the highest income level, 8.5% of non-Cypriot employees earned €6,000 or more, compared with 4.3% of Cypriot employees.

The pattern was similar by gender. Among non-Cypriot men, 44.5% earned less than €1,500, while 10.3% earned at least €6,000. The corresponding figures for Cypriot men were 22.9% and 5.3%. Among women, 50.3% of non-Cypriot employees earned below €1,500, compared with 32.3% of Cypriot women. At the upper end of the scale, 5.5% of non-Cypriot women earned €6,000 or more, versus 3.1% of Cypriot women.

Earnings Distribution Highlights Differences Across The Workforce

While average monthly earnings increased in the first quarter, the distribution data showed that most employees earned below the overall average. The figures also pointed to differences in earnings across gender, nationality and income bands.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.