The majority of Cypriots prefer dining out over engaging in cultural activities according to a recent survey, which also points to views that retail will go up again but so will prices.
Fewer people attend cultural activities or hit the gym in Cyprus but do so rather more frequently, according to a Hellenic Bank study for the second half of 2017, while most people who responded to the survey indicated they go out mostly for food. The trend remains unchanged compared to the first half of 2017.
While more people go to restaurants and taverns to enjoy food with company, fewer people visit the gym or children playgrounds but do so more frequently. The same is true for athletic events, according to the survey.
While more people go out to enjoy food, fewer people visit the gym or children playgrounds but do so more frequently
Cultural outings, such as going to the cinema or theatre, attending music concerts and festivals, as well as youth entertainment remain a lower priority in terms of expenditure in the next 12 months.
Cypriots also remain intent on going on winter vacations on the island but only one in four plans to spend more than three days, while four in ten say they plan on taking a short vacation. Holidays abroad are more popular during winter time but mainly for visiting friends and family or having a new experience, which is in sharp contrast with winter holidays in Cyprus mainly for economic reasons.
The survey also shows that there are currently signs that economic activity will pick up the pace, especially in retail where there is a widely shared sense that sales costs will also rise.
Shopping malls remain a favourite place to hangout especially for younger consumers while online commerce is a better choice for those who like to save some money.