Limassol Chamber Business Barometer Autumn 2018 – Final Results

Limassol-based companies are in general positively inclined vis-à-vis the present and the immediate future, according to the final results of the Limassol Chamber of Commerce and Industry (Autumn 2018). The findings of the survey, based on the participation of about 20% of the economically active members of the Chamber (itself a very representative sample for such surveys), show that without disregarding the problems encountered at different levels, a clear majority, in all sectors of economic activity, express their satisfaction with the results of their investments last year, state their readiness to continue their investment effort and, perhaps more importantly, they will continue recruiting new staff, which will have a beneficial effect at social level too.

In terms of problems and difficulties, the Limassol business community is still troubled by shortages of skilled labor, and continues to believe that government departments are not sufficiently cooperative and business-friendly. They also believe that any further banking crisis will have a very serious impact on their activities, while growing commodity prices and the situation in our region (Middle East) continue to pose serious concerns.

In general, and comparing the findings of the Barometer of Autumn 2018 to those of Spring of the same year and also those of Autumn of 2017, it can be seen that although those who with a skeptical or outright pessimistic mood remain the minority (and in many cases a small minority) their number have evidently increased. A likely interpretation of this is that, at least at business level, the euphoria of previous months is receding somewhat, with more emphasis now placed on consolidation rather than on further expansion. Safer conclusions about whether there is indeed a clear trend in that direction can be deduced from the findings of the next edition of the Chamber Barometer, which is scheduled for the Spring of this year. 

The detailed findings of the Autumn 2018 Limassol Chamber Business Barometer, accompanied by a brief analysis, are posted on the Chamber website (http://www.limassolchamber.eu/assets/images/DownloadsGr/1548079799.pdf).

LIMASSOL CHAMBER OF COMMERCE AND INDUSTRY

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