During the period under review, domestic transactions with credit cards decreased to EUR 1.2 billion , while in August, the value of such transactions dropped by 5 percent year-on-year, reaching EUR 154.19 million. Transactions made by foreign cardholders declined by 17 percent to EUR 271.22 million. As tourists coming from countries which have been affected by the current economic downturn have significantly reduced spending, Cyprus earnings from tourism fell 15.5 percent during the first seven months of the year.
Data has been released by credit card clearing agency JCC, cited by iii.co.uk.
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