Revenue from tourism reached €1.217 million in the period of January – July 2022 more than doubling the revenue of the respective period of last year.

Even though, in today’s working world, there are millions of people that are deciding to leave their job for a multitude of reasons, the most unsurprising exodus probably comes from working parents. Juggling virtual learning, working from home and the office, as well as providing care to their children can cause them a lot of pressure and make them feel alone and helpless. Not only do parents have to carry the responsibility of caring for their children and keeping up with the demands of their jobs, but they are also responsible for the unseen mental load of managing a household, helping with schoolwork, and staying connected to their partners. Therefore, little time remains during the day for them to spend it on their own well-being and health.

Labour unrest in the tourism sector is thankfully not on the cards now that the island’s hoteliers have approved the extension of the collective agreement in the industry for another year.

Cyprus passenger traffic spiked to almost six million by the end of August, raising hopes that the year will reach 2016’s levels – that is pre-pandemic ones.

In June 2021 at the 43rd conference of the Pancyprian Hoteliers Association, it may have been the first time it was officially made clear that the markets of Russia and Britain will no longer be a one-way street for the Cypriot tourism industry.

The policy of granting tax incentives to foreign technology companies is yielding results, Invest Cyprus Investment Promotion Agency Chairman Evgenios Evgeniou said, stressing that 7,000 work permits have been approved this year for highly skilled individuals who chose to work in Cyprus.

An increase in energy and raw material costs is expected in the next six months, factors that are already ranked by businesses as the most important problem they are facing today. However, despite these estimates, 11% of businesses expect their business profitability to increase over the next six months, while only 37% of businesses in Cyprus expect their business profit to decrease over the next six months. It is also particularly striking that four out of 10 firms estimate that despite cost increases in the next six months, their profitability will remain unaffected.

The average gross monthly earnings of employees increased by €100 in the second quarter of 2022, according to provisional data, published by Cyprus Statistical Service on Wednesday. In particular, they reached €2,081, compared to €1,982 in the same period of 2021, recording an increase of 5%.

Cyprus’ first crematorium is set to begin operations by 2024, eight years after the relevant law was first passed, it emerged on Wednesday.

The Council of Ministers of the Republic of Cyprus, through Regulatory Administrative Act RAA 373/2022, has issued a Decree relating to the exemption of certain physical persons from the obligation to submit a Tax Declaration (TD1) for the year 2022. In particular, every physical person who, during 2022, has had a gross income of not exceeding €19,500 is exempt from the obligation to submit a Personal Income Tax Return for the year 2022.