Faithful to its corporate responsibility programme, the company presents its second Socioeconomic Impact Report.
Recognizing the importance of its wider impact on local economy and emloyment, this year the company wanted to measure its direct and indirect contribution, for the period March 2020 – February 2021, with the preparation of its second Socioeconomic Impact Report.
Once again, the purpose of the study is to identify and evaluate the impact of the company’s operation in Cyprus, its economy and society as a whole. As a reference point to its accountability and strategy, Lidl Cyprus sets Sustainable Development Goals of the United Nations. The findings, in terms of value added, employment support and payment of taxes and contributions to the Cypriot state are presented in detail, in forms of indicators.
Based on transparency and objectivity, the company addresses all its stakeholders, as well as interested social and economic actors, in order to form a comprehensive perception of the economic and social value created by Lidl Cyprus in our country.
Lidl Cyprus’ contribution to the Cypriot economy is estimated over 100 million euros
In 2020, the total added value offered by Lidl Cyprus to the Cypriot economy amounted to 0.48% of the country’s GDP.
Specifically, through investments in facilities and human resources, as well as collaborations with local suppliers, the direct added value reached 65 million euros, while the indirect value of 23 million and the induced value of 12 million, brought an exceeding total of 100 million euros.
One of the largest employers in the country
In 2020, Lidl Cyprus operated 18 stores throughout the island as well as a distribution center in Larnaca. Considering that 2020 it employed 629 peple, it is one of the largest employers in the country while it cooprates with 426 Cypriot suppliers.
At the same time, as mentioned in the report, through various investments and collaborations, 621 induced and 381 indirect employments were created. In fact, it is estimated that the income from the 1,631 total emplyments supports 4,241 of our fellow citizens.
