Wishing to measure its direct and indirect contribution to the island’s local economy and labour market, Lidl Cyprus has published its second Socioeconomic Impact Report, covering March 2020 – February 2021.

As with its first edition, the purpose of the most recent study was to identify and evaluate the impact of the company’s operations in Cyprus, and on the local economy and society, drawing on the UN’s Sustainable Development Goals to guide its accountability and strategy. The detailed findings, in terms of value added, employment support and tax payments and contributions to the Cypriot state, are presented as indicators.

Based on transparency and objectivity, the company thus addresses all its stakeholders, as well as interested social and economic actors, to provide a comprehensive perception of the economic and social value created by Lidl Cyprus, for the benefit of the island.

Lidl Cyprus’ contribution to the Cypriot economy is estimated at over 100 million euros.

In 2020, the total added value offered by Lidl Cyprus to the Cypriot economy amounted to 0.48 per cent of the country’s GDP.

Specifically, through investments in facilities and human resources, as well as collaborations with local suppliers, the direct added value reached 65 million euros, while the indirect value of 23 million and the induced value of 12 million, brought an exceeding total of 100 million euros.

One of the largest employers in the country

In 2020, Lidl Cyprus operated 18 stores across the island, as well as a distribution centre in Larnaca. Considering that in 2020 it employed 629 people, it is one of the largest employers in the country, while it cooperates with 426 Cypriot suppliers.

At the same time, as mentioned in the report, via various investments and collaborations, 621 direct and 381 indirect job openings were created. In fact, it is estimated that the income from the 1,631 total posts support 4,241 Cypriots.

Dynamic social and environmental action

Lidl Cyprus’ vision is to become the most sustainable food retail company in the country. Specifically, its total investment in social and environmental initiatives, as well as product donations, reached €296,000.

Meanwhile, as part of its “On the road to a better tomorrow” programme, Lidl Cyprus plans and supports various actions that support society as a whole.

In fact, in 2020, in the midst of the pandemic, the company expanded and strengthened its collaborations with recognised social organisations and institutions, including the Cyprus Red Cross and Cyprus Cancer Association. At the same time, Lidl Cyprus supported local and national non-governmental organisations with food and basic necessities.

View the company’s Socioeconomic Impact Report in detail here.

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