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The crisis taught the Cypriots to save

The crisis taught the Cypriots to save

20.07.2018
Tags:Cyprus, Economics & Statistics

The annual costs of the average Cypriot family are 31 206 euro. This is 19% less than in 2009 year. According to CyStat, the inhabitants of the island began to save on entertainment, clothes with shoes and transport. The townspeople (20,2%) are more affected than the villagers (14,9%). The study involved 2876 Cypriot families, which from July 2015 to June 2016-th kept records of expenses.

For all major categories of goods and services, there is a marked reduction in costs compared to the 2009 year. The exception was food and non-alcoholic beverages (an increase of 1%) and education (+ 7,2%).

The biggest decrease in spending - 34,1% - is recorded in entertainment and cultural events. At 31,5%, a typical Cypriot family has reduced the cost of clothing and footwear, 30% - for transport.

 The costs of an ordinary Cypriot family from July 2015 to June 2016

  • Food and non-alcoholic beverages - 4781 euro (15,3% of the family budget)
  • Alcoholic beverages and tobacco products - 502 euro (1,6%)
  • Clothing and footwear - 1807 euro (5,8%)
  • Housing and utilities - 7967 euro (25,5%)
  • Furniture, household appliances and current housing repairs - 1615 euro (5,2%)
  • Healthcare - 1614 euro (5,2%)
  • Transport - 3748 euro (12%)
  • Communication - 1267 euro (4,1%)
  • Entertainment and cultural events - 1371 euro (4,4%)
  • Education - 1408 euro (4,5%)
  • Hotels, cafes and restaurants - 2786 euro (8,9%)
  • Other goods and services - 2341 euro (7,5%)

Details- onOnlineStatistical Service of the Republic of Cyprus (CyStat)

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