One In Four Cypriots Cannot Afford A Week Away From Home

by THEFUTURE.TEAM

August 3, 2026

As Cyprus enters the peak summer tourism season, new Eurostat data show that a holiday remains out of reach for a significant share of the population. According to the latest figures for 2025, 27.5% of people aged 16 and over in both Cyprus and the European Union said they could not afford to spend one week away from home on an annual holiday, placing the island exactly at the EU average.

Long-Term Improvement, But Financial Pressure Persists

Although the figure has improved significantly over the past decade, financial constraints remain a reality for many households. In Cyprus, the share of people unable to afford a one-week holiday has fallen from 58.9% in 2014 and 45% in 2019 to 27.5% in 2025.

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Across the EU, the rate stood at 27.5%, up slightly from 27% in 2024 but well below the 35.2% recorded in 2015.

Wide Differences Across Europe

Eurostat’s data highlight substantial differences between member states. Romania recorded the highest share of people unable to afford a one-week holiday at 61.4%, followed by Greece at 46.6%, while Bulgaria and Hungary both stood at 39.1%.

At the other end of the ranking, Luxembourg reported the lowest share at 10.6%, followed by Sweden at 12.4% and both the Netherlands and Austria at 12.8%.

Cost Of Living Continues To Weigh On Households

The figures suggest that rising living costs continue to limit household budgets, despite an overall improvement in material conditions over the past decade. Inflation has eased from previous peaks, but accommodation, air travel and dining costs remain elevated across much of Europe.

According to the European Trade Union Confederation (ETUC), around 42 million workers across the EU cannot afford even one week away from home, highlighting the pressure that housing costs, transport expenses and food prices continue to place on household finances.

A Measure Of Financial Well-Being

Eurostat’s figures are based on the EU Statistics on Income and Living Conditions (EU-SILC) survey and count only people who are unable to take a holiday because of financial constraints rather than personal choice.

For many households across Cyprus and the wider European Union, the data underline that a one-week annual holiday remains beyond reach despite broader improvements in living standards.

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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.

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