Average salaries in Cyprus have risen by 13% over the past two years, reaching approximately 2,500 euros, Minister of Labor and Social Insurance Yiannis Panayiotou announced on Wednesday, citing recent Eurostat data.
The median salary has also climbed nearly 11.5% to about €1,900, while the number of workers earning below €1,000 has dropped by 30%.
Panayiotou described the data as evidence of a “positive trajectory” in the labor market and a validation of the government’s policies. “This reality is not artificial nor exaggerated,” he said following a cabinet meeting, noting that salary increases have outpaced the cost of living by a factor of three.
Cyprus recorded a 4.8% rise in hourly labor costs in the first quarter of 2025, outpacing the eurozone average of 3.4% and the EU average of 4.1%. The country ranks among the top six EU member-states for hourly wage increases.
Panayiotou said wage growth should reflect Cyprus’ economic progress and benefit both employees and employers. He reiterated Nicosia’s commitment to improving wage adequacy, expanding the middle class and protecting low-wage earners.
