Turkish Cypriots credit card spending reaches EUR 12.5 mln in Jan-Sep

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Turkish Cypriots spent EUR 12.5 mln using credit cards in Greek Cypriot shops in the first nine months of this year, according to the latest data from the credit card company JCC.
JCC recorded the amount spent in the south using credit and debit cards issued by Turkish banks. Since the number of Turkish tourists arriving in Larnaca is well under 100 each year and Turkish nationals are not allowed across the Green Line, it is beyond doubt that these figures relate to Turkish Cypriot spending.
In September alone, Turkish Cypriots spent EUR 1.7 mln, compared with EUR 1.3 mln in August.
The most popular item in the first nine months of the year continued to be supermarkets (reaching EUR 2.7 mln), followed by clothing (EUR 2.5 mln) and DIY (EUR 1.9 mln).
Crossing points across the UN-monitored Green Line were first opened by the Turkish Cypriots in April 2003.

Meanwhile, Greek Cypriots spent EUR 1.8 mln in Turkey excluding Attaleia (Antalya) in January-September.
Turkey is becoming a popular tourist destination with Greek Cypriots. Official data show that 1,319 returned from a trip to Turkey in 2007.
As for spending in the north, in the first nine months of the year JCC reported that EUR 5.2 mln was spent in the “Occupied Areas and Attaleia”, with only a tiny proportion of that likely to have been spent in Attaleia (Antalya).
Most spending by Greek Cypriots in the north was on entertainment (EUR 3.0 mln), reflecting the popularity of the casinos, which are banned in the south, while EUR 952,007 was spent on hotels.

www.sapientaeconomics.com