Cyprus: Beer consumption falls 2.3% in January – November this year

Cyprus domestic beer consumption fell 2.3 per cent to 29.9 million litres between January and November compared to the previous year, , as cheaper imported brands strengthened their market position by expanding sales in retail shops, according to statistics department data.

While beer is a dominant alcoholic beverage of choice among Cypriots, consumers are becoming more discerning pricewise, with the financial crisis taking its toll.

“The decline in consumption mainly comes from the overall reduction of the annual household income of Cypriots,” said Dimitris Siandris, commercial manager for KEO.

Unemployment in Cyprus remained above 15 per cent this year, in which the economy is expected to contract about 2.6 per cent after it shrank 5.4 per cent last year.

26 December, 2014