Holidays a luxury for three in ten Cypriots, data show

Economy cost-of-living crisisEurostatinflationTop NewsTourismtravel Holidays a luxury for three in ten Cypriots, data show Holidays A Luxury For Three In Ten Cypriots, Data Show Relevant News Man arrested in Cyprus in first overseas National Security Act investigation 31 July 2026 Holidays a luxury for three in ten Cypriots, data show 31 July 2026 AC Milan legend Franco Baresi dies aged 66 31 July 2026 Theano Thiopoulou 31 July 2026 FacebookXWhatsAppEmailPrintViber Eurostat data show that 27.5% of European Union residents aged 16 and over could not afford a week’s annual holiday away from home in 2025, at the height of this year’s tourist season. The figures, the latest available from the European statistical service, are unlikely to have changed significantly during 2026. The EU-wide rate is up half a percentage point compared with 2024, though it remains well below the 2015 level of 35.2%. Large gaps between EU member states stand out in the data, reflecting the differences in disposable income, purchasing power and social conditions that continue to exist between countries, despite overall economic convergence in recent years. Cyprus sits close to the European average. According to the latest available figures for the country, 27.6% of residents aged 16 and over said they could not afford a week’s holiday away from home. The figure marks a significant improvement compared with 45% in 2019 and 58.9% in 2014, but still means roughly three in ten Cyprus residents lack this ability. Romania records the worst figure in Europe, with 61.4% of the population unable to cover the cost of a week’s holiday. Greece follows with 46.6%, along with Bulgaria and Hungary at 39.1%. At the other end of the scale, Luxembourg (10.6%), Sweden (12.4%) and the Netherlands (12.8%) record the lowest rates in the EU. The remaining countries stand as follows: Belgium 19.5%, Czechia 19%, Denmark 14.1%, Germany 20.9%, Estonia 25.8%, Ireland 20.5%, Spain 32.2%, France 23.2%, Croatia 32.6%, Latvia 28.9%, Lithuania 30.9%, Malta 27.6%, Austria 12.8%, Portugal 33.1%, Slovenia 15.2%, Slovakia 29.1%, Finland 14.8%, Sweden 12.4%. The cost of living The data show that despite a gradual easing of material deprivation over the past decade, the higher cost of living continues to limit purchasing power for many households. Although inflation has eased compared with previous years, it has risen sharply in Cyprus over the past quarter, and prices for essential services such as accommodation, air travel and dining remain high in several European countries. Eurostat regards the ability to take at least a week’s holiday as a key indicator of material and social wellbeing, since it shows whether households can cover a basic leisure expense without straining their family budget. Another significant finding, according to the European Trade Union Confederation (ETUC), is that around 42 million workers in the European Union could not afford even a week’s holiday away from home, showing that the problem affects not only the unemployed or retired, but also a significant number of lower-income workers. The Confederation attributes this to ongoing pressure from rising housing, transport and food costs, as well as the decline in wages’ purchasing power. Eurostat’s research is based on the EU-SILC (Statistics on Income and Living Conditions) database and records only cases where the inability to take a holiday is due to financial hardship rather than personal choice. Subscribe to our Newsletter Latest News Man arrested in Cyprus in first overseas National Security Act investigation AC Milan legend Franco Baresi dies aged 66 Things to do on Friday, July 31 Two hospitalised for smoke inhalation after Paphos house fire Rent versus Instalment scheme: last chance to apply tonight Larnaca house fire caused by malicious act, authorities say Liberian authorities burn seized cocaine in Montserrado County Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.