Turkish Cypriot spending in south collapses
08 November, 2011
Turkish Cypriot credit card spending in the south collapsed by 32.5% over the year earlier to EUR 1.28 mln in October, from EUR 1.69 mln in October 2010, according to data from JCC Payment Systems.
The main reason seems to be a sharp reduction of 123% in airline spending from EUR 63,036 in October 2010 to EUR 28,315 in October 2011, although it is not clear if this is because of an actual reduction in spending or a change in how the spending is calculated.
More:Financial Mirror dot com - Turkish Cypriot spending in south collapses
