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.

Cyprus Reconsiders EU Green Taxes to Prevent Consumer Impact

The Cypriot government is navigating complex tax scenarios amid new EU green regulations that pose potential increases in consumer costs. Responding to these concerns, President Nikos Christodoulides highlighted the strategic necessity to stall or minimize new carbon taxes to prevent significant financial pressure on residents through heightened water and fuel tariffs.

These proposed measures fall under the EU’s Recovery and Resilience Facility (RRF), aimed at accelerating Europe’s green transition. During a recent interview with Omega TV, President Christodoulides assured that Cyprus is working closely with EU officials to mitigate these impacts, even if it means sacrificing some financial assistance from the initiative.

Efforts to balance environmental commitments with fiscal responsibilities reflect a broader dedication to sustainable development.

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