Turkish Cypriots spend more using credit cards

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TURKISH Cypriots spent €9.5m in the government controlled areas from January 1 to Augusts 31, compared to the €4.1m Greek Cypriots spent in both the occupied north and in Turkey, according to data released by credit-card processing company JCC.

While Greek Cypriots mostly spend their money in casinos and hotels – €1.6m in hotels and €791,000 in entertainment — Turkish Cypriots gave a healthy injection to the local economy by spending the bulk of their money in supermarkets, retail stores, and DIY and furniture outlets.

Specifically, according to JCC, Turkish Cypriots spent €9,554,318, of which €2m was spent in supermarkets, €2.8m on clothing and at other retailers and €1.4m in DIY and furniture stores.

Greek Cypriots spent €751,000 in airline tickets to fly off from Ercan/Tymbou airport.

In August alone, credit card transactions in the north and Turkey amounted to €1.1m, out of which €200,000 was spent in the north on hotels, €108,000 on airlines and €101,000 on entertainment.

Turkish Cypriots spent €1.5m in the south in August, with €300,000 going to supermarkets, €457,000 at retail stores and €242,000 spent in hotels.

JCC’s data prompted a reaction by the Citizen’s Alliance party, which said that it is unacceptable that Greek Cypriots spent money in the north. “Who are these people and what are their incomes?” asked the party, demanding that the Inland Revenue Department step in and go through their tax forms.

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