Cyprus-Forum.com

[susieV3]

Hi

How bad is it in Cyprus with the credit crunch? are there seasonal jobs?
I know the property market is very bad, but how is everything else being affected at the moment?...........is it as dire as the UK???

S

[Z4]

Yes

[Z4]

Yes

[susieV3]

ok thanks..........can you elaborate on that?

[RichardB]

not much to comment about Cyprus is affected just like the rest of the EU

[Z4]

ok thanks..........can you elaborate on that?

Brits are losing jobs=thinking twice about going on holiday=may look to go to a 'cheaper' resort=not going to cyprus=empty restuarants and empty hotels=lack of tourists in Cyprus=restaurants and hotels closing down=jobs going.

Brits not being able to purchase second homes=no one buying homes=1000's of jobs at risk

Get the message?

[JimB]

ok thanks..........can you elaborate on that?

Brits are losing jobs=thinking twice about going on holiday=may look to go to a 'cheaper' resort=not going to cyprus=empty restuarants and empty hotels=lack of tourists in Cyprus=restaurants and hotels closing down=jobs going.

Brits not being able to purchase second homes=no one buying homes=1000's of jobs at risk

Get the message?

Harsh but fair

[Z4]

ok thanks..........can you elaborate on that?

Brits are losing jobs=thinking twice about going on holiday=may look to go to a 'cheaper' resort=not going to cyprus=empty restuarants and empty hotels=lack of tourists in Cyprus=restaurants and hotels closing down=jobs going.

Brits not being able to purchase second homes=no one buying homes=1000's of jobs at risk

Get the message?

Harsh but fair

[Sotos]

ok thanks..........can you elaborate on that?

Brits are losing jobs=thinking twice about going on holiday=may look to go to a 'cheaper' resort=not going to cyprus=empty restuarants and empty hotels=lack of tourists in Cyprus=restaurants and hotels closing down=jobs going.

Brits not being able to purchase second homes=no one buying homes=1000's of jobs at risk

Get the message?

I think you are exaggerating the relationship between Cyprus and UK. The British are not the only ones who come as tourists to Cyprus or the only ones who buy homes here. Also some others, like Russians, might be less, but they spend more. So Cyprus is affected by the crisis in the UK but it is not all black!

[Tim Drayton]

ok thanks..........can you elaborate on that?

Brits are losing jobs=thinking twice about going on holiday=may look to go to a 'cheaper' resort=not going to cyprus=empty restuarants and empty hotels=lack of tourists in Cyprus=restaurants and hotels closing down=jobs going.

Brits not being able to purchase second homes=no one buying homes=1000's of jobs at risk

Get the message?

I think you are exaggerating the relationship between Cyprus and UK. The British are not the only ones who come as tourists to Cyprus or the only ones who buy homes here. Also some others, like Russians, might be less, but they spend more. So Cyprus is affected by the crisis in the UK but it is not all black!

I agree with you there. The property market is only in big trouble in places that were dependent on British buyers. In Nicosia, for example, property prices rose slightly last year. I see a fair number of Russian tourists in Limassol. There is a new initiative underway to attract Iranian tourists. It will be interesting to see how that goes.