souroul wrote:cyprus is 70% services and so is the US, but thats not the point.
as for the second paragraph, nobody saves, everybody invests, and thats how economies grow, and as economies grow, jobs are created. of the jobs created, the foreigners get the low income/labor intensive spots, and hopefuly the locals get the managerial/marketing/finance/IT positions. is theres illegal immigrants, yes the government loses out on taxes, but the employer gets some sort of tax break. the money is still thrown back into the economy.
lets say we have a hotel with 70% foreign waiters, and all local office personel. out of the money "saved", they offer more competative prices, (which means more tourists to pour money into the economy), and in the end expand their business. ok so now they built a second hotel, and yes they hire 100% foreign waiters, but again, all the office/management personel is local (decent paying jobs added). also, more supply, prices go down, so more tourists, so more hotels, so more money, so.... get it?
You keep believing, that by importing cheap (slave) labour, so that Cypriots can land all those high paying jobs, and you will end up at the end of the que one day, hoping to get a job, at £10 pounds a day, just like "doglover" stated earlier. Capitalist elites know no loyalty to their citizens.
Unless I'm mistaken and that all Cypriots are home owners (no mortgages) and business owners, then they can indeed rely on foreign labour. However, the fact that you feel comfortable importing cheap (slave) labour, so that you can have a better life, on the sweat and tears of another person, should make you live in shame. When few members on this board, reported of people being paid "peanuts" for a long days work, and 4-5 living in one room, just to get by. Just remember, when a country, such as Cyprus, which mainly relies on tourism to remain economically health, with no other major industries, apart from farming, it can fall on it's face faster than you can sneeze, if there was a major storm, outbreak of disease, or a war.
If Cypriots are economically happy (according to you), I wonder why so many have springboard to other industrialise countries.?? I guess they just can't handle the sun "360 days" of the year.!!