LIMASSOL CHAMBER BUSINESS BAROMETER – THE LONG WAY TO RECOVERY

Cautiously positive is the way one can describe the findings of the Limassol Chamber Business Barometer (Spring 2021). Positive, because the depressing picture that appeared in the Autumn 2020, due to the pandemic and its extensions, has begun to subside. Cautiously, because the extent to which it has subsided is still very limited, showing that there is a long way to go before the cumulative effects of the crisis are completely overcome, and always with the understanding that the health crisis itself will become a thing of the past.

The complete, detailed results of the Barometer, which include sectoral analyses, are accessible through the Chamber website (www.limassolchamber.eu). However, we briefly mention, in the form of comparisons, the following:

The percentage of those saying they will open up new jobs short-term short term rose to almost 52%, compared to 35% six months earlier.

• 58% will make new investments. The corresponding rate for Autumn 2020 was below 50%.

• 26% predict sales growth; 11%, made a similar estimate six months earlier.

When asked if their confidence in the prospects of the Cypriot economy has increased, less than 7% answered in the affirmative. Six months earlier only 1% had responded positively. Even so, 7% is still very low. There is little doubt that achieving solid conditions for economic growth and prosperity is still a long way off.

LIMASSOL CHAMBER OF COMMERCE AND INDUSTRY

170 Franklin Roosevelt, 3045 Lemesos | Cyprus

Tel. : +35725855000 | Fax : +35725661655 | Email : info@limassolchamber.eu

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