Total employment for the fourth quarter of 2024 is estimated at 500,606 persons, of which 448,007 are employees and 52,599 are self-employed. According to CySTAT, compared to the corresponding quarter of 2023, total employment increased by 1.7% for the 4th quarter of 2024. The most significant percentage increases were observed in the economic activities of […]

The interest rates of Cypriot banks for both deposits and loans are showing increased alignment with eurozone averages, according to data published by the Central Bank of Cyprus for December. The initiative aims to enhance market transparency and consumer awareness by providing detailed breakdowns of rates offered by individual financial institutions, enabling households and businesses to make more informed financial […]

Cyprus has implemented new restrictions on licensing solar farms on agricultural land, following recommendations from the Audit Office, Interior Minister Konstantinos Ioannou told the House Agriculture Committee on Tuesday. The committee continued discussions on protecting agricultural land from solar installations, with the Energy, Commerce and Agriculture Ministers attending alongside representatives from the energy regulator CERA, transmission system […]

Cyprus’ government employment increased by 599 people in February 2025, a rise of 1.1 per cent, compared to February 2024, reaching a total of 55,296 employees. According to the state statistical service, this growth was primarily driven by an increase in employment within the educational service, which grew by 3.8 per cent. Moreover, the report […]

Aegean Airlines on Tuesday reported a strong start to 2025, carrying 1.9 million passengers in the first two months of the year, marking a 9 per cent increase compared to the same period in 2024. The airline also announced ambitious expansion plans, offering 1.8 million additional seats in 2025, bringing the total available seats to […]

CySEC conducted 850 audits, issued €2.76m in fines in 2024 The Cyprus Securities and Exchange Commission (CySEC) on Tuesday outlined its key regulatory actions and market oversight efforts during a press conference in Nicosia. The commission’s presentation focused on legislative and technological developments shaping the capital markets in 2025. The commission highlighted increasing institutional and regulatory requirements, digital transformation, and […]

Cyprus Wine of Kings A bottle of Cyprus’ famous Commandaria wine sits next to three glasses at the Karseras Winery in the mountain village of Doros on Friday, Feb. 21, 2025. (AP Photo/Petros Karadjias) MENELAOS HADJICOSTIS Mon, March 10, 2025 at 11:21 AM GMT+7 4 min read NICOSIA, Cyprus (AP) — Praised by the ancient Greek […]

Larnaca’s Tourism Board (ETAP) has announced an ambitious plan to enhance the region’s tourism infrastructure for 2025, building on its success as Cyprus’s third most popular destination despite having significantly fewer accommodation options than competing regions. With just 5,817 beds compared to Limassol’s 9,874, Paphos’s 27,441, and Famagusta district’s 37,809, Larnaca has seen tourist arrivals increase […]

The Presidency of the Republic of Cyprus has described the achievement of the government’s goal of creating conditions for full employment within the first two years of governance as a significant labour achievement with a strong positive impact on the economy and society. More specifically, in a post on X, the Presidency reports that unemployment […]

The Research and Innovation Foundation (RIF) on Monday announced a new call for proposals under its Fast Track Innovation programme. According to the announcement, the programme aims to support existing businesses that wish to invest in the development and commercialisation of innovative products and services. It has a total budget of €2 million. “The Fast Track Innovation programme is open to businesses […]

Cyprus’ general government surplus for January 2025 stood at €566.9 million, equivalent to 1.6 per cent of GDP, according to preliminary data released on Monday by the state statistical service. This represents an increase compared to January 2024 but a decline in relation to December 2024. In January 2024, the surplus had reached €476.5 million or 1.4 per […]

US Ambassador to Cyprus Julie Davis has stressed the crucial role of American investments in the economic development of Cyprus, highlighting opportunities in tourism, real estate, investment in higher education, sustainable energy and the attraction of international business centres. Davis was speaking during an event entitled “USA – Cyprus: strengthening trade and economic ties”, held at […]

The Cypriot real estate market saw significant activity in January 2025, with the 50 largest property transactions amounting to €30.1 million, according to real estate analytics firm Ask Wire. The company on Friday reported that the ten most expensive sales nationwide totalled €12.1 million during this period. The highest-value transaction was a house in Mouttagiaka, […]

US Ambassador to Cyprus Julie Davis this week highlighted the crucial role of American investments in Cyprus’ economic development. Speaking at an event at Neapolis University Paphos titled “USA – Cyprus: Strengthening Trade and Economic Ties,” Davis highlighted opportunities in tourism, real estate, the higher education sector, sustainable energy, and the attraction of international business hubs. According to […]

The Deputy Ministry of Tourism has expressed satisfaction with its participation at the ITB Berlin tourism conference this week, where minister Kostas Koumis led the Cypriot delegation. According to an official announcement, the meetings aimed at enhancing tourism from Germany yielded significant advancements, including a substantial rise in airline seats scheduled for 2025. Koumis engaged […]