For decades Brits have been flocking to the beautiful Mediterranean island of Cyprus and the reasons are there for all to see. The sun drenched beaches, the delicious food and the warm and friendly locals are just 3 draws that have made this destination a firm favourite for retirees and tourists alike. But recently it has transpired that this love affair could be on the wane, let’s take a closer look and see what has gone so wrong in recent times to cause this unexpected twist.
Cypriotic Financial Woes
The Cypriot financial crisis of 2012-2013 has been cited as having a devastating effect on the expat population. The results of this unprecedented meltdown have meant that prices in Cyprus have literally spiralled beyond belief and this has hit locals and expats alike.
It’s a real shame for those who have swapped the unpredictable British climate for winters that regularly hit 20 degrees and above. The relative inexpensive cost of living has gone for a burton and there is only so much hot weather you can take when you can’t afford a bottle of water anymore.
Expats Are Returning Home
Sky News has announced that there are upwards of 30 enquiries per day from expats who actually want to return to cold and miserable Britain. Those living on somewhat limited means are now finding it pretty impossible to make ends meet. In fact, the UK seems like a great value for money alternative in comparison.
Although the locals will be sorry to see the British expats leave, it is believed that they will soon be replaced by their more affluent Chinese and Russian counterparts.
The Cypriot government are nothing if not resourceful and the fact that they are attracting new expats with promises of a shiny new EU passport certainly pays testament to this fact.
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