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Cyprus

Creating a Brighter Economic Horizon for Cyprus

2.5

2023 Projected Real GDP (Change from 2022)

3.9

2023 Projected Inflation (Change from 2022)

6.5

2023 Unemployment Rate

4.9

FDI Inflows (2022, in USD)
sources: IMF & UNCTAD

Cyprus aims to diversify its economy by reducing its reliance on traditional sectors like tourism and expanding into knowledge-based industries, such as technology, finance, and renewable energy. This diversification helps to reduce vulnerability to economic shocks

Cyprus seeks to strengthen its global connectivity by leveraging its strategic location at the crossroads of Europe, Asia, and Africa. This includes improving transportation infrastructure, fostering international trade, and positioning Cyprus as a hub for regional business and logistics

Cyprus places significant emphasis on sustainable economic development. The vision includes measures to reduce the environmental footprint, promote green technologies, and incorporate sustainable practices in various sectors, including energy, transportation, and agriculture

The country is focused on developing a knowledge-based economy by investing in research, development, and innovation. This includes supporting startups, research institutions, and technology hubs to foster innovation and entrepreneurship

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