Cyprus: Turkish Cypriot spending rose to EUR 9.8 mln in Jan-July

Turkish Cypriots spent EUR 9.8 mln using credit and debit cards in the southern part of Cyprus during the first seven months of the year, according to data from the credit card company JCC, up from EUR 9.4 mln in the same period of 2009. In July alone, they spent EUR 1.7 mln.
The most popular item was supermarkets (reaching EUR 2.1 mln), followed by clothing (EUR 1.8 mln) and “other retailers” (EUR 1.7 mln).
Meanwhile Greek Cypriots spent EUR 4.0 mln in “Occupied Areas and Attaleia”, with only a tiny proportion of that likely to have been spent in Attaleia (Antalya), up from EUR 3.8 mln in the same period of 2009.
Most spending by Greek Cypriots was on entertainment (EUR 1.2 mln), probably at the casinos, which are banned in the south, while EUR 891,212 was spent on hotels EUR 813,775 on airlines. Only EUR 91,286 was spent in supermarkets.
Fiona Mullen, Sapienta Economics