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EY Cyprus COVID-19 Updates

EY Business Leaders' Confidence Barometer

Executive Summary

The COVID-19 pandemic has disrupted business as usual and has brought drastic changes to the global economy. Similar to other countries, Cyprus has had to establish and implement health, social and economic recovery plans and local businesses have had to adjust to the new realities by reconfiguring their operating model including sales channels and supplier networks to strengthen their business resilience and better serve their clients. As with all strategies, there is a need for continuous reassessment to remain effective to challenges as these unfold.

EY Cyprus has conducted the first EY Business Leaders’ Confidence Barometer to identify trends in the way companies adapt to the changes in pandemic-induced restrictions and gauge corporates’ confidence in the outlook of their industry and the broader economy.

The survey focuses on four areas: market confidence, financial performance & strategies, workforce & staffing and investment appetite & funding accessibility, and covers the main sectors of the Cypriot economy: Financial Services, Technology and Telecommunications, Hospitality, Real Estate & Construction, and Non-Food Retail.

We remain available to support you in addressing the multiple challenges surfacing as a result of the COVID crisis.

Full report can be found here

Stay safe and connected.

 

For additional information with respect to EY Business Leaders' Confidence Barometer, please contact the following:

 

Stelios Demetriou

Partner

Head of Strategy and Transactions Services

T: +357 22 209 746

E: Stelios.Demetriou@cy.ey.com

 

Alexandros Pericleous 

Associate Partner, 

Strategy and Transactions Services

T: +357 22 209 793

alexandros.pericleous@cy.ey.com

 

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About EY

EY is a global leader in assurance, tax, strategy, transaction and consulting services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. 

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© 2021 Ernst & Young Cyprus Ltd. All Rights Reserved.  

This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice. 

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