Rising costs are driving restaurants and bars in Paphos to the brink, with 50-60 expected to close permanently in 2024, according to Angelos Onisiforou, chairman of the regional association of recreation centres.
Onisiforou said many businesses are unable to withstand soaring expenses such as rent and electricity, compounded by shrinking profit margins.
“Some businesses will not reopen due to rising operating costs, such as rent and electricity, combined with a
