Nicosia, Cyprus. Cyprus’ cabinet on Thursday approved the disbursement of funds under a salary subsidy scheme for hotel workers, subject to participating hotels submitting all required paperwork. The scheme applies to the month of April.
Immediate disbursement for eligible hotels
In a statement, the government said the subsidies would be paid immediately to eligible businesses once they have filed the necessary documentation.
Scope of the subsidy scheme
The wage subsidy scheme for the hotel sector covers 30 per cent of employees’ monthly salaries, up to €1,324 per employee, for up to 80 per cent of a company’s workforce.
Eligibility requirements
To qualify for the scheme, hotels must provide proof of a documented drop in bookings.
Purpose of the financial support
The financial aid was designed to encourage businesses to remain open and protect jobs amid a significant slowdown in the tourism sector caused by the conflict in the Persian Gulf.
Industry response
Hoteliers had called for broader, long-term state assistance.