Sapienta Cyprus Selection, 19 Jan 2023
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 or already have been analyzed in our monthly issues of Sapienta Country Analysis Cyprus. Learn more about the different subsections of Sapienta Cyprus Snippets here.
Cyprus election*. A poll published in the past few days suggests that the head of ruling DISY, Averof Neophyotou, might not even make it to the second round in the Republic of Cyprus presidential election due on 5 February. Article (in Greek) from Kathimerini: https://www.kathimerini.com.cy/gr/politiki/dimoskopiseis/olokliri-i-dimoskopisi-k-thriler-poy-tha-krithei-stin-kalpi-i-2i-thesi-grafika Relevance to Cyprus: we shall be examining the election means for DISY in forthcoming issues of Sapienta Country Analysis Cyprus.
Turkey election*. Presidential elections in Turkey look likely to be held a month early on 14 May. Article from Reuters: https://www.reuters.com/world/middle-east/turkeys-erdogan-signals-may-14-date-his-biggest-election-test-2023-01-18/ Relevance to Cyprus: the Cyprus problem has been in the deep freeze; some hope that things will start to move after elections in Turkey and the Republic of Cyprus this year.
Tourism. Inferring from surveys on inbound tourism to the UK, the global tourism market looks set to be buoyant this year. Article from Exhibition News: https://exhibitionnews.uk/uk-tourism-data-reveals-confidence-levels-are-returning-but-barriers-remain/. Relevance to Cyprus: while this was specifically about tourists going to the UK, it is a positive sign about the general direction of tourism this summer.
Natural gas. Eni and Chevron announced a natural discovery offshore Egypt this week. Article from Reuters: https://www.reuters.com/business/energy/eni-announces-new-gas-discovery-offshore-egypt-2023-01-15/. Relevance to Cyprus: Eni and Chevron each have licences for blocks offshore Cyprus.
Economy*. The outlook for the eurozone turned more upbeat in the past two weeks are real GDP growth in Germany was estimated at 1.9% in 2022. The latest surveys now think the eurozone might escape recession. Article from Deutsche Welle: https://www.dw.com/en/europe-may-avoid-recession-in-2023-economic-chiefs-say/a-64414532. Relevance to Cyprus: As Cyprus’ biggest trading partner, developments in the rest of the eurozone will also affect the economic outlook in Cyprus.