Lidl Cyprus report documents support for island’s future

For yet another year, and focused on its responsibility and contribution to Cypriot society and economy, based on transparency and objectivity, Lidl Cyprus has recorded its direct and indirect contribution to society, the economy and employment over March 2022 to February 2023, with the preparation of its sixth Socioeconomic Impact Report.

The purpose of this specific study is to identify and evaluate impacts created by the operation of the company in Cyprus, and with regards to the country’s economy and society. As a benchmark of its accountability and strategy, Lidl Cyprus uses the UN’s Sustainable Development Goals to define its work. The findings, in terms of added value, supporting employment and paying taxes and contributions to the Cypriot state, are detailed in the report in the form of indicators.

Based on the results of the study, the company gave to the Cypriot economy significantly over March 2022-February 2023, with a GDP contribution amounting to €126 million. This corresponds to 0.41 per cent of the country’s GDP, while at the same time paying €22 million in tax revenue, which arose from its activity, corresponding to 0.25 per cent of the total tax revenue of the Cypriot state.

Additionally, Lidl Cyprus, as one of the largest employers on the island, with 20 stores, and as one of the largest domestic logistics centres, provides over 2,000 jobs (induced, direct and indirect), corresponding to 0.48 per cent, while each direct employment supports 1.9 additional employments, supporting a total of over 5,000 people.

Finally, with its main focus on contributing to others and to the environment, the company invested €544,000 in initiatives in support of Cypriot society as a whole, as well as green causes, both via sponsorships and product donations to various non-profit organisations.

Very much aware of the responsibility it has towards the country in which it operates, Lidl Cyprus aims, in every possible way, for its presence to offer value, all while supporting the Cyprus of the future and staying true to its vision of a better tomorrow – both for people and the environment.

Follow Lidl Cyprus at the following links:

• corporate.lidl.com.cy
• www.lidl.com.cy
• www.lidlfoodacademy.com.cy/
• www.facebook.com/lidlcy
• www.instagram.com/lidl_cyprus
• www.twitter.com/Lidl_Cyprus_
• www.linkedin.com/company/lidl-cyprus