Newsroom
Cyprus is aiming high with a bold economic strategy that puts young people, innovation, and foreign investment at the center of the island’s future. Speaking at the 15th Nicosia Economic Congress on Friday, President Nicos Christodoulides called the country’s new generation “the best guarantor of the future,” and laid out a vision focused on competitiveness, digital transformation, and attracting talent from abroad.
One of the headline announcements was a “Brain Gain” campaign, set to launch in London on May 21, which aims to bring talented Cypriots working overseas back home. “We’re opening doors for them to return, invest, and be part of building the new Cyprus,” Christodoulides said.
He also revealed that two American tech firms, contacts made during a recent visit to Silicon Valley, will be arriving in Cyprus next week to explore investment opportunities, especially in the country’s growing research and innovation sector.
Despite global economic uncertainty, Christodoulides painted a positive picture of Cyprus’s current position. The economy grew by 3.4% in 2024, one of the best performances in the Eurozone, while unemployment dropped below 5%, with youth joblessness showing the largest drop in the EU. The government is also working to cut public debt to below 60% of GDP by 2026.
As part of its digital push, Cyprus has made strides in e-governance, posting a 16.3% improvement in digital services, well above the EU average. “We’re eliminating red tape and saving time for both citizens and businesses,” the President said.
Christodoulides also stressed the importance of rebranding Cyprus’s global image, pointing to recent efforts to improve transparency and governance. A key focus is to attract strategic, long-term investments and foster international partnerships.
Cyprus recently entered the top 50 global startup ecosystems for the first time, backed by tools like the new Cyprus Equity Fund, which offers fresh financing opportunities for startups and innovative businesses.
“Cyprus may be small, but it’s full of potential,” the President concluded. “And if we work together, government, businesses, youth, academics, we can go further than we ever imagined.”
