7.8 C
Nicosia
Sunday, January 29, 2023

Cypriot companies are less optimistic

Must read

Cypriot companies are less optimistic

Theano Thiopoulou

Cypriot companies are optimistic but also concerned about 2022 and expect that affordable access to energy and raw materials will be the biggest challenge, along with uncertainty about labor market adjustments.

This is the general assessment from the large pan-European economic survey of the European Chambers of Commerce in Europe, in which the CCCI participated. The findings for Cyprus, where the survey was conducted by the CCCI, although improved compared to last year, are generally less optimistic than those of other countries.

READ ALSO: Investments of Cypriot companies braked due to pandemic

The main challenges that Cypriot companies expect to face in 2022 are labor costs, lack of manpower with the right skills, access to finance, the constant rise in prices of energy and raw materials, their digital transformation. and environmental requirements. 24% of Cypriot companies believe that they will have increased domestic sales in 2022 while 46% believe that they will remain at the same levels. Although the forecasts are better than last year, they are still lower than the European average.

45% of Cypriot companies believe that they will have reduced exports in 2022, while 31% believe that they will remain at the same levels. Here again, although the forecasts are better than last year, they are still lower than the European average. 27% of Cypriot companies believe that they will have increased staffing needs in 2022, while 56% believe that they will not have additional staffing needs. This result is very close to the European average. 29% of companies in Cyprus believe that they will make increased investments in 2022, while 48% believe that their investments will remain at the same levels. And this result is relatively lower than the European average. 33% of Cypriot companies express more optimism for 2022 while 48% believe that their optimism will remain at the same level, with the result that it is very close to the European average. The survey involved more than 52,000 companies in 26 European countries.

Source: www.philenews.com

- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article