The subjective poverty rate in Cyprus has significantly decreased, reflecting a drop of nearly 38 per cent since 2015. As of 2024, this rate stands at 20.8 per cent, according to new figures from Eurostat.
- This upward trend in economic well-being in Cyprus suggests improvements in living conditions and social support mechanisms, further aligning with broader European efforts to combat poverty.
The latest data reveals a consistent decline in subjective poverty in Cyprus, which has decreased from a staggering 58.8 per cent in 2015. This downward trend is notable as the rate has steadily fallen over the years, marked by 29.6 per cent in 2022 and 24.1 per cent in 2023.
Understanding Subjective Poverty in the EU
Across the European Union, the subjective poverty rate has also shown improvement, dropping to 17.4 per cent in 2024 from 19.1 per cent in 2023. While Cyprus’s rate is slightly above the EU average, it is moving closer to this benchmark.
Comparative Figures Across Europe
In comparison, Greece reported the highest subjective poverty rate at 66.8 per cent, followed by Bulgaria at 37.4 per cent and Slovakia at 28.7 per cent. Conversely, the Netherlands and Germany recorded the lowest rates, both at 7.3 per cent, with Luxembourg at 8.5 per cent.
The Age Factor in Poverty Rates
Eurostat’s data also highlights the variance in subjective poverty across different age groups in 2024. The highest rate was observed among those under 18 years old, at 20.6 per cent. The rate for individuals aged 18 to 64 years was recorded at 17.3 per cent, while the elderly population (65 years and older) had the lowest rate at 14.9 per cent.
Declines Across All Age Groups
All age demographics in the EU experienced a decrease in subjective poverty from 2023 to 2024. The most significant decline occurred among those aged 18 to 64, with a reduction of 1.8 percentage points. The younger and older age groups also saw notable decreases of 1.6 percentage points each.
This upward trend in economic well-being in Cyprus suggests improvements in living conditions and social support mechanisms, further aligning with broader European efforts to combat poverty.
