Cyprus has the highest rate of employment in hotels and restaurants in Europe.

According to Eurostat data released recently, Cyprus had 30 thousand employees in hotels, restaurants and catering in 2004, which is 8.9% of total employment.

Invited to comment on the latest figures, General Manager of Cyprus Hoteliers’ Association, Zacharias Ioannides said that high employment in those sectors is attributable to “the positive contribution of tourism in economy and its social contribution in the creation of new job posts”.

“It is normal for Cyprus, Malta, Spain and Greece, which are developed in terms of tourism, to have high rates of employment in the hotel and restaurant sectors. Countries such as Germany, France and the UK have lower rates since their economy is based on industry”, STEK General Manager, Fedias Karis told StockWatch.

Mr. Karis explained that in the past 15 years “the contribution of manufacture and agriculture in the GDP has shrunk while the tertiary sector of production – which includes tourism – has increased sharply its contribution to GDP”.

The second highest rate of employment in the aforementioned sectors belongs to Malta, which had 12 thousand employees in 2004, 8.2% of its total employment.

Spain ranks third having employed 1.2 million persons in 2004 (6.7% of total employment) and Greece fourth with 280 thousand employees (8.2% of total employment).

In 2004, the EU employed 7.84 million persons in these sectors, which is 4.4% of total employment.