Nicosia, Cyprus. Lidl Cyprus published its sixth socioeconomic impact assessment on Thursday, outlining its 2024 contribution to the Cypriot economy and society through employment, investment and sustainability initiatives.
Assessment findings for 2024
The company said the assessment confirms its commitment to responsible entrepreneurship and its continued creation of value for Cyprus for another consecutive year. The report covers Lidl Cyprus’ performance during 2024 and describes a steady strengthening of its economic and social footprint across the country.
Contribution to GDP
According to the study, Lidl Cyprus contributed a total of €133 million to Cyprus’ GDP, corresponding to 0.43 per cent of national output. The assessment found that for every €1 contributed by Lidl Cyprus, an additional €0.46 in added value is generated across the wider economy.
Employment impact
The company supports 2,000 jobs across Cyprus, including direct, indirect and induced employment, the report said. This represents 0.40 per cent of total national employment, and the analysis stated that for every job created by Lidl Cyprus, a further two jobs are supported elsewhere in the Cypriot economy.
State revenue contribution
Lidl Cyprus’ contribution to state revenues reached €22 million in 2024 through taxes and social security contributions. The study said this corresponds to 0.17 per cent of the state’s total tax revenues.
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