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Turkish Cypriots spending CYP 70,000 per day in the south

www.financialmirror.com

Turkish Cypriots spend about CYP 70,000 per day in the government-controlled areas, while Greek Cypriots spend around CYp 65,000, according to new research.

The research is based on a survey carried out by Cyprus College in association with the Central Bank of Cyprus.

The research found that an estimated 6,000 Turkish Cypriots cross the checkpoints every day to the south, spending in total CYP 70,000 per day, while 3,800 Greek Cypriots cross every day to the north, spending in total CYP 65,000 per day.

Average daily expenditure by Turkish Cypriots in the south is CYP 15.54, up from CYP 5.68 in 2003.

Average daily expenditure by Greek Cypriots in the north is CYP 17.15, of which CYP 3.81 on average is on casino and nigh-time entertainment.

In other words, Greek Cypriots who do not go for gambling purposes spend about CYP 13.7 per head–a little less than Turkish Cypriots.

The survey estimates that 500 Greek Cypriots regularly gamble in the north.

Around 2,800 Turkish Cypriots work every day in the south, and earn CYP 27 mln–around the same amount that is spent by Turkish Cypriots in the govrnment-controlled areas.

Around CYP 17 mln of this spending goes on shopping for basics, which is no surprise given the number of Turkish Cypriot number plates to be seen at supermarkets each weekend.

There is a big difference in how much those who work in the south spend (an average CYP 4.39) as compared with those who come for other reasons, who spend an average CYP 15.54.

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