Breaking news

Cyprus Committed To Adequate Wages And Dignified Pensions, Minister Says

Minister of Labour and Social Insurance Yiannis Panayiotou has conveyed the government’s commitment to adequate wages and dignified pensions promoting more social justice in citizens’ everyday life.

According to a press release issued by the Ministry of Labour, Panayiotou made the statements while addressing the Plenary of the ILO’s Global Coalition for Social Justice held in Geneva, on 13 June.

The Global Alliance was set up during the 2023 ILO Conference, aiming to promote social justice in the shaping of public policy and social dialogue between social partners, numbering more than 250 participants including governments, workers and employers’ organisations and other international organisations.

Cyprus was one of the first states to respond to the invitation by ILO Director-General, the Ministry said.

In his address, Panayiotou said universal and lasting peace can only be consolidated if it is based on social justice.

“This is what we are defending in this body for over a century and our commitment will continue to be in place for the years and generations to come,” he added.

Panayiotou stressed that the Cypriot government remains “dedicated to safeguarding better wages and better pensions, adequate income for all those actively participating in the labour market so we could maximize the economy’s capacity and to secure our citizens’ welfare.”

“Our government is determined to actively participate in the Global Alliance because we believe in its cause and we want our Alliance to succeed,” he said.

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.

The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter