Makarios Avenue
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Retailers in Cyprus describe the 'struggle to survive'

The eurozone may be out of recession, but with unemployment at 17% and grocery retail down 10%, shopkeepers in Cyprus are still facing tough times.

Consultant Olympios Toumazou took BBC Radio 5 live's Drive reporter Dominic Laurie to Makarios Avenue in Nicosia - the Cypriot capital's equivalent of London's Oxford Street.

Olympios said, "This used to be the most premium street in Cyprus... but it's now becoming a ghost city."

For retailer Theodoros Nicholson, the situation is increasingly worrying, as 90% of the shopping traffic outside his store has dried up.

He claimed, "For us on Makarios Avenue the struggle for the next few years will be purely to survive."

  • 23 Aug 2013
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