Credit card expenditure rises in Jan-Aug

Cypriots spend 10% more on their credit cards in the first eight months of this year compared with the same period of 2004, according to figures from the credit card processing company, JCC.

Purchases by Cypriots within Cyprus amounted to CYP 415.8 mln in January-August, while purchases in August alone rose by 13% to CYP 57.9 mln.

Cypriots are also spending more abroad, with expenditure in January-August reaching CYP 111.0 mln, a rise of 16% on the same period of 2004.

A promising sign is that expenditure by tourists is also up, recording CYP 158.5 mln in January-August, a rise of 6% on the same period of 2004. Within the month of August, tourists spent 13% more than they did in August 2004, for a total of CYP 32.1 mln.