German global discounter Lidl came to Cyprus in November 2010 and gradually expanded to 15 stores island-wide, with one more to open soon in Limassol’s Mouttayiaka area.
Considering the island’s small size, the numbers say it all, but a socio-economic study carried out by Lidl Cyprus and presented in Nicosia this week went a step further.
“This is our first socio-economic study. We wanted to pinpoint Lidl’s impact on the national economy and on job openings,” board chairman of Lidl Cyprus Iacovos Andreanides told a press conference.
“We wanted to measure out our direct and indirect contribution to Cyprus‘ economy, job openings and to highlight the added value – direct, indirect, resultful – we have created,“ he added.
The study covers the financial period between March 1, 2015 and February 29, 2016 and was drafted with the support of Ernst & Young Greece.
It shows that Lidl’s total added value contribution was €84.5 million, corresponding to 0.5% of Cyprus‘ GDP.
And its total job openings contribution – direct, indirect and effective – was 1,460, which corresponds to approximately 0.4% of total employment in Cyprus. Of them, 446 were direct, 487 indirect and 527 effective.
In addition, Lidl were partners with 280 Cypriot suppliers, with overall purchases reaching a total of €47.3 million, of which €32.8 million went to retail market products.
Their product range covers fresh fruit and flowers to clothes and electric tools.
Lidl’s purchased products for retail sale from Cypriots suppliers, per sector, as a percentage on total purchases, is as follows: 73% food and drinks, 21% trade, 4% agriculture and 2% other sectors.
At the same time, Corporate Responsibility Manager of Lidl Cyprus Vasiliki Adamidou said they are conscious of their responsibility to society and nature.
And that they continuously make efforts to improve in the areas of environment and climate protection, employees and social responsibility.
“Between March 1, 2015 and February 29, 2016 we invested a total of €49,165 in intitiatives in support of children as well as of various social fora,“ Adamidou said.
“We joined forces with local organisations and fora promoting balanced nutrition of students at schools along with exercise and a healthy lifestyle…we are also standing by the Cyprus Anti-Cancer Society’s ‘Arodafnousa’ Care Centre for a third year running,“ she added.