articles | 04 August 2016

Credit card spending across Cyprus

More than €6m was spent in the north of the island and in Turkey on credit cards issued in the government controlled areas of the Republic of Cyprus so far this year, according to figures released recently by JCC.

JCC said of the total €6.04m, some €4.2m was spent in the north of the island and €1.76m in Turkey.

The sectors with the biggest value of transactions were hotels, with transactions of €2.09m, entertainment with €1.11m and airlines with €1.07m.

In July the value of transactions reached €867,850, of which €644,441 was spent in the north and €223,408 in Turkey.

Meanwhile, transactions using Turkish credit cards used in the government controlled areas exceeded €14m between January and July.

The highest number of transactions worth €3.3m was in supermarkets, €2.8m in clothing shops, €1.85m on transport and €1.67m in DIY and household stores.

In July only €2.43m was spent on Turkish credit cards in the south of the island.

Meanwhile, transactions within the government controlled areas by Greek Cypriots reached €1.35bn in the first seven months of the year and €215.4m in July, increasing by 5% and 8% respectively.

Greek Cypriots’ credit card transactions abroad also recorded a significant increase of 18% between January and July compared to the same period last year, and by 23% in July. They reached €790.5m in the first seven months and €123.1m in July.

Tourists’ transactions in Cyprus also saw a big increase, rising by 11% in the period from January to July and by 13% in the seventh month of the year, and stood at €414.86m and €94.3m respectively.

Source: Cyprus Mail

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