Cyprus Faces Rising Unemployment as Tourism Sector Struggles
Unemployment in Cyprus has increased to 11,243 individuals by the end of March, marking a 1.6% rise from February. This uptick reverses the gradual improvement seen since the pandemic. The hospitality industry, heavily reliant on stable global conditions, has been particularly affected due to ongoing unrest in the Gulf region, which has disrupted airline operations and slowed travel plans. In response, Labour Minister Marinos Moushiouttas has introduced a wage-support initiative for the hospitality and tourism sectors, covering 30% of wages for businesses experiencing a significant drop in income. This initiative aims to retain trained staff during this period of instability. 
