Breaking news

High Occupancy Rates for Cyprus Restaurants in October; Winter Decline Anticipated

Restaurants, cafes, and bars in Cyprus experienced a strong October, with occupancy levels reaching 80 to 90 per cent, according to Neophytos Thrasyvoulou, president of the Federation of Leisure Centre Owners (Osika). He described October as a “very successful month” for the food service industry.

However, with winter approaching, Thrasyvoulou acknowledged potential challenges, especially with the impact of regional instability. “Visitor numbers have seen a slight drop in recent days,” he noted, though he hopes that occupancy levels will remain steady until mid-November. By early November, Thrasyvoulou expects visitor occupancy to hover around 50 to 60 per cent, after which the responsibility will lie with businesses to keep operating, with support from the Labour Ministry’s programme to extend the tourism season.

Reflecting on the earlier summer months of June and July, Thrasyvoulou highlighted that visitor numbers were initially lower than expected, largely due to Middle East tensions. The trend eventually improved, leading to a stronger second half of the season.

Despite rising costs, Thrasyvoulou urged business owners to maintain affordable pricing, aiming to keep dining accessible for both locals and tourists amid economic pressures.

President Christodoulides Says Privatization Decisions Not Tied To Elections

National Interests At The Forefront

Nikos Christodoulides, President of Cyprus, said decisions on privatization legislation will be based on long-term national considerations rather than electoral timelines. Speaking at the 16th Nicosia Economic Congress, he said the approach will be guided by constitutional obligations and respect for state institutions.

Adherence To Constitutional Principles

Christodoulides said he is reviewing the issue and will assess decisions based on the Constitution. “I study matters from the standpoint of the Constitution, and I will defer to our institutions because they are the backbone of our state,” he said. He added that decisions will be aligned with institutional processes and legal requirements.

Context And Anticipated Developments

Privatization remains a central issue in public and political debate in Cyprus. The government’s position on related legislation is expected to influence economic policy and investor sentiment.

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