The GDP growth rate in real terms, seasonally adjusted, during the third quarter of 2025 is positive and it is estimated at 3.6% over the corresponding quarter of 2024, according to a flash estimate, published by CySTAT. Compared to the previous quarter, GDP went up 0.9% in the third quarter. The positive GDP growth rate […]

The Statistical Service’s preliminary estimate for a 3.6% growth rate in the third quarter of 2025 is significantly higher than the EU average and confirms the impetus of Cyprus’ economy, Makis Keravnos has said. In a written statement, the Minister expressed satisfaction saying that “these figures confirm the impetus of the Cypriot economy, which in a period […]

The average full-time annual salary in Cyprus in 2024 came to 27,611 euros, roughly €12,200 below the European Union average of €39,800, but well above Greece’s €18,000, according to the latest Eurostat data. The gap with the EU mean rate highlights wide pay disparities across Europe, with Luxembourg leading the pack at €83,000 per year, […]

Finance and technology announcements at the inaugural TOURISE Summit in Riyadh set out major investment commitments and the launch of a new global digital framework for tourism. TOURISE said it catalysed $113 billion in portfolio investments aimed at accelerating growth across the global tourism ecosystem. It said the portfolios were announced at the summit as part of a broad […]

A British couple who have visited Ayia Napa on no fewer than 70 occasions have been named “tourism ambassadors” by the town’s municipality. Peter and Glynnis Ditchburn were awarded the title by Ayia Napa mayor Christos Zannettou, who, according to the municipality, “warmly thanked the couple for their timeless preference for Ayia Napa as their only […]

Business & economy wrap-up from the day before Cyprus’ economy recorded robust growth in the third quarter of 2025, with new national and European data confirming that the country continues to outperform the wider region. According to a flash estimate by the Cyprus Statistical Service (Cystat), Cyprus’ seasonally adjusted gross domestic product increased by 3.6 […]

The traditional HR model is obsolete, according to Perha Group founder Mariana Hadjiantoniou, who built her consultancy on the need for a people-centred direction. Hadjiantoniou began her career in human resources long before Perha Group existed, and it was this experience, she said, that gradually convinced her the industry needed a far more people-centred direction. […]

IBM (IBM.N) announced on this week that it has built a new experimental quantum computing chip called Loon that demonstrates it hit a key milestone toward making useful quantum computers before the end of the decade. Quantum computers could someday solve problems that would take classical computers thousands of years. But due to the uncertain […]

Here are the top business stories in Cyprus from the week starting November 10: An agreement was signed on Thursday to bring to an end the months of wrangling between workers and employers over the cost-of-living allowance (CoLA) and set how it is implemented going forward. The signing was attended by President Nikos Christodoulides, who […]

French company Aerix Systems and Cypriot firm SignalGeneriX Ltd have formalised a memorandum of understanding to co-develop a multi-purpose, dual-use drone solution at the France-Cyprus Innovation and Cooperation Forum. The agreement combines Aerix Systems’ omnidirectional drone platforms and proprietary autopilot with SignalGeneriX’s advanced digital signal processing, communications and artificial intelligence technologies. The signing took place at the French […]

A delegation from the Paphos regional tourism board (Etap) and local hoteliers is in the Baltic states this week for a series of workshops aimed at strengthening the district’s presence in emerging markets.  According to the board, the presentations are taking place from November 11 to 13 in Vilnius, Riga and Tallinn, with more than […]

Cyprus must treat winter tourism as a “one-way street” and invest steadily in non-peak months, according to Hermes Airports Director of Aviation Development, Marketing and Communication, Maria Kouroupi. Speaking on the podcast A Look at the Economy from Politis, Kouroupi said Cyprus is on track for a third consecutive record year in passenger traffic, a trend she attributed […]

The assets of investment funds in Cyprus recorded a 16 per cent increase in September 2025, compared with the same month in 2024, the Central Bank of Cyprus (CBC) said on Friday. The total assets of investment funds reached €7.89 billion in September 2025, up from €6.80 billion in September 2024, marking an increase of over €1 billion, […]

Cyprus’ economy recorded robust growth in the third quarter of 2025, with new national and European data confirming that the country continues to outperform the wider region. According to a flash estimate by the Cyprus Statistical Service (Cystat), Cyprus’ seasonally adjusted gross domestic product increased by 3.6 per cent year-on-year in the third quarter of 2025. Cystat said that the […]

The Bank of Cyprus‘ property management unit has achieved a significant turnaround in its non-core asset portfolio, announcing that property sales have exceeded new asset acquisitions since the start of 2019, as part of its financial results for the nine-month period ending September 30, 2025. The Real Estate Management Unit (REMU), which concentrates on liquidating properties acquired through debt-for-asset swaps, has […]