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Spending in Cyprus: Cypriots spend nearly 50% of their monthly expenses on housing, food and transportation
Recently, the European Statistics Office (Eurostat) has released statistics showing that Cypriots spend most of their money on housing, transportation and food.
In 2017, restaurants and hotels were the most expensive with 17.5% of the total annual spending of Cypriot households. Followed by housing, water, electricity and gas with 15.4%, food and non-alcoholic beverages is 13.7%, transportation means 13%.
Thus, Cypriot households spend up to 42% on housing, food and transportation.
Other goods and services accounted for 9.1%. In particular, cultural and entertainment activities accounted for 6%; alcohol and tobacco accounted for 5.6%; health accounted for 4.9%, clothing and footwear accounted for 4.8%; furniture and household appliances accounted for 4.4%; communication accounted for 3% and education accounted for 2.6%.
According to Eurostat, each household will have different spending plans, depending on income levels, cultural habits and living areas.
In 2017, most families in EU countries (nearly a quarter) spend mainly on housing, water, electricity and gas. In addition, other activities such as transportation accounted for 13% and food was 12%. Restaurant, hotel, cultural and entertainment services followed with a rate of about 9%.
The remaining products and services account for 4 – 6%, including furniture, household appliances, clothes, shoes, alcoholic beverages and cigarettes. Online education and communication accounts for a very small percentage of 3% and 1% respectively.