+32%

Annual tourist arrivals in Cyprus have seen a 32% increase this year, as announced by the Tourism Minister. A steady stream of tourist arrivals is anticipated until November. It's evident that Cyprus is enjoying a prosperous tourism year. Arrivals have risen by about 32%, and revenues have jumped by 34%. An increase in per capita spending further highlights this positive trajectory.

12.5% Tax

In recent years, Cyprus has carved a niche for itself as a global business epicenter, making it a prime location for corporate headquarters and foreign investments. Its modern infrastructure, a plethora of multilingual and top-tier professionals across diverse fields, and the prevalent use of English in business dealings position Cyprus to further its stature as a regional business and investment powerhouse. Cyprus boasts one of Europe's most competitive corporate tax rates at just 12.5%, positioning it as a top choice for businesses and entrepreneurs.

Cyprus: An Investment Hotspot

Large-scale projects, privatisations and a burgeoning oil and gas sector are firmly placing Cyprus on the map as a hotspot for investment.

Attracting foreign direct investment is at the heart of the Government’s policy. It is committed to creating optimal conditions for businesses to flourish by simplifying administrative procedures, improving the tax framework, guaranteeing an open and transparent legal system and eliminating internal barriers.

Cyprus has seen considerable GDP growth for eight consecutive quarters, a result of the new incentives as well as increased activity in tourism, trade, manufacturing and real estate.

A prosperous future

€50m

Annual turnover forecast €50M

3.4B bl

Oil resources

4.54tcf

Natural gas reserve

1650%

average estimated reserves of GDP worth have been estimated in its exclusive econom- ic zone.

Leading maritime hub

1^st

third-party shipmanagement centre in the EU

3^rd

largest fleet in the EU

10^th

largest merchant fleet in the world

€1bl

in annual revenue

of GDP