Cyprus Mail

More customers spending less in restaurants

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Rising prices will see businesses taking a hit

Paphos restaurants took the top spot for customer traffic in 2022, as the island’s restaurants saw an increase of customers of between 10 and 15 per cent compared to 2021, but warned that rising prices will see businesses taking a hit.

According to the president of Cyprus restaurant owners (OSIKA) Fytos Thrasyvoulou locals were concerned about the higher prices. “This is due, however, to the increases in the prices of all essentials and the operating costs of businesses,” he said.

Meanwhile, Thrasyvoulou noted that restaurants in Paphos were operating at almost 90 per cent capacity. However, he pointed out that the normally popular location of Polis Chrysochous had recorded a quiet spell.

Thrasyvoulou added, however, that although visitor numbers may be at better levels than last year, there has been a drop in visits from Cypriots either because they travelled abroad or because they are waiting for the three-day public holiday on August 15.

He also pointed out that quality customer traffic in all of the island’s towns had fallen as the money spent is less.

Meanwhile, in the Limassol district the traffic ranges between 70-75 per cent of total capacity, attracting more tourism traffic than locals, while in the area of Famagusta, traffic was around 75 per cent, but the spending was markedly less.

Larnaca also recorded restaurant visitor levels of between 70-75%, while the Nicosia district was quiet, with a reduction in restaurant customer traffic, which reached 60 per cent.

Thrasyvoulou attributed the dip in customer traffic to a number of factors, including the economic crisis that is plaguing the whole of Europe and the higher prices.

“After the increases in the prices of electricity and beef, the future is unknown both for the entrepreneurs and for the consumers themselves,” he said and called on the members of the OSIKA to absorb as much as they can the increased costs

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