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Cyprus Business Now

The economic future of Cyprus looks bright, with GDP expected to grow steadily from 2.9% in 2024 to 3.3% by 2027. Key sectors such as construction, maritime, technology, and real estate are driving this growth, while efforts towards environmental sustainability in transportation are gaining momentum.

innovation business

Keve to Take Part in Reflect Festival

The Reflect Festival in Cyprus is a major technology event where over 8,000 attendees engage in workshops and startup competitions. Keve’s participation highlights the need for small and mediumsized businesses to embrace technology for growth in the digital economy.

technology knowledge

Cyprus’ Digital Competitiveness Declines in Global Rankings

Cyprus has dropped to 51st place in global digital competitiveness rankings due to challenges in readiness for technological changes, knowledge and innovation, STEM graduates, mobile broadband subscriptions, business agility, big data integration, and academiccommercial knowledge transfer. Despite setbacks, Cyprus shows strength in areas like employment rates of technical workers and gender parity in higher education, highlighting the need for strategic investment to improve its digital standing.

technology innovation

Cyprus Firm Achieves Top Ranking in Deloitte Technology Fast 50

Capital.com, a Cyprusbased fintech firm, has achieved the top ranking in the Deloitte Technology Fast 50 for the third consecutive year with an astounding growth rate of 4,411%. This annual ranking highlights the fastestgrowing technology startups in the Middle East based on revenue growth, showcasing the innovative spirit and technological advancements within the region.

transportation technology

Paphos Enhances Public Transportation Network

Paphos has upgraded its public transportation network with a new bus terminal in Karavella, smart bus stops with realtime displays, and interchange stations at Paphos harbor and Tomb of the Kings Avenue. These improvements aim to provide efficient transit, boost tourism, and support sustainable travel in the city.

business technology

The Evolution of Business in Cyprus: Isystems Group’s Expansion

Isystems Group has expanded its operations to Cyprus to strengthen its global presence and deliver innovative business software solutions, taking advantage of the strategic location, skilled workforce, and favorable business climate in the region. This move signifies the growing importance of Cyprus as a tech and business destination, reflecting the company’s commitment to meeting the diverse needs of its clientele while tapping into the island’s potential as a hub for advanced technological services.

tech innovation

Cyprus: Emerging Tech and Business Hub

Cyprus is positioning itself as a global tech and innovation hub with advanced infrastructure, supportive business environment, and a forwardthinking approach. Focused on fostering professional development, addressing educational and real estate needs, and investing in research and innovation, Cyprus is emerging as a significant player in the tech industry.

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Limassol Traffic Camera System Expansion

Limassol is enhancing road safety with the installation of five new fixed cameras at key intersections to monitor and enforce traffic laws, targeting redlight violations, illegal line crossings, and speeding. This technological upgrade aims to reduce serious and fatal accidents by ensuring continuous adherence to traffic rules.

technology innovation

Cyprus: Emerging as a Global Tech & Innovation Hub

Cyprus is transforming into a global tech and innovation hub, showcasing its growing ICT ecosystem contributing over 10% to its GDP. With impressive legal/tax frameworks, robust infrastructure, and quality education, Cyprus is attracting international attention through events like the 2nd Cyprus – The New Global Tech & Innovation Hub Summit.

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