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Turnover Value Index in Cyprus Highlights Robust Service and Transport Growth

by THEFUTURE.TEAM

June 6, 2025

Overview of Q1 2025 Market Trends

The Cyprus State Statistical Service has released compelling data that underscores significant upward momentum in the services and transport sectors during the first quarter of 2025 compared to the same period in 2024. This robust performance is underscored by noteworthy gains across several key industry segments.

Administrative and Support Services Surge

Administrative and support service activities led the charge with a substantial 10.6 percent increase in turnover value. This impressive growth reflects a broader trend towards enhanced operational efficiency and business support functions across commercial enterprises.

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Strong Gains in Hospitality and Transportation

In the hospitality sector, accommodation and food service activities increased by 9.4 percent, while the transport and storage sectors grew by 6.7 percent. These increases highlight the sectors’ adaptability and response to evolving consumer demands and logistical challenges.

Digital and Real Estate Advancements

Information and communication activities experienced a 5.4 percent uptick, signaling ongoing digital transformation efforts that are reshaping business operations. Concurrently, real estate activities registered a 3.2 percent increase in turnover, providing a stabilizing factor amid a shifting economic landscape.

Notable Decline in Technical Expertise

In contrast, professional, scientific, and technical activities experienced a slight decline of 0.1 percent. This marginal downturn suggests an area that may require strategic reassessment to reinvigorate performance.

Overall, the turnover value index, which captures total invoiced sales within these dynamic sectors, provides a picture of an evolving economy. The data underscores both the potential and the challenges that lie ahead, providing key insights for stakeholders across Cyprus’s business landscape.

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Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.