Sapienta Cyprus Selection, 18 Nov 2022
Regular Cyprus-relevant links
A regular selection of links to articles of medium- to long-term relevance to people living and doing business in Cyprus. Topics marked with * will be analyzed in our next monthly issue of Sapienta Country Analysis Cyprus.
Tourism. A report by Oxford Economics on the impact of online travel agencies concludes, inter alia, that online travel agencies "support more equitable development across Europe by orienting consumers towards rural areas" (something which the government is trying to encourage). Report: The Economic Impact of Online Travel Agencies in Europe 2019 - 2021 - Oxford Economics.
Cyprus economy.* As noted in my longer article published this week, real GDP grew on a seasonally adjusted basis by a seasonally adjusted 5.4% compared with the same period of the previous year in the third quarter. In the end-November issue of Sapienta Country Analysis Cyprus we shall be revising up our growth rate. The longer article in case you missed it is here.
Turkish banks. An unorthodox monetary policy has so far not prevented banks in Turkey from making comfortable profits. But now they have started to raise concerns. Report by Reuters: https://www.reuters.com/business/finance/turkish-bankers-fear-regulatory-burden-will-reverse-profit-boom-2022-11-08/.
UK property. Many Cypriots hold property in the UK but things are not looking so good for the buy-to-let market according to this article by FT Adviser. Possible paywall: https://www.ftadviser.com/buy-to-let/2022/11/07/btl-profit-margins-are-taking-a-battering/.
Corporate governance. Gender balance on boards is coming, following the adoption by the European Council of the final text: either 40% non-executive directors or 33% of all directors must be of the under-represented sex (sic). Shameless plug: I am a registered holder of the CySEC Advanced Exam and am available 🙂. European Council press release: Council approves EU law to improve gender balance on company boards - Consilium (europa.eu).
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