Cyprus Redefines Global Innovation Through Strategic Research And International Collaboration

by THEFUTURE.TEAM

December 18, 2025

Cyprus is rapidly transforming its economic model by placing research and innovation at the heart of its growth strategy. According to Demetris Skourides, Chief Scientist and Chairman of the Research and Innovation Foundation (RIF), the nation’s ecosystem has witnessed remarkable progress over the past two years in preparation for its 2026 Presidency of the Council of the European Union.

Accelerating Research And Innovation

Since assuming office in September 2023, Skourides has conducted approximately 1,700 meetings both domestically and abroad. His extensive outreach underscores Cyprus’ commitment to establishing itself as a credible partner for advanced research and innovation. This vigorous diplomatic effort, characterized as “extroverted innovation diplomacy,” has contributed to the nation’s improved ranking—now 25th globally in the Global Innovation Index—with a significant climb in its startup ecosystem, as reported by StartupBlink.

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Building Global Strategic Partnerships

Key to Cyprus’ evolving landscape is its strategic outreach to technology leaders such as the United States, Japan, Australia, India, and Israel. These alliances are paving the way for groundbreaking research collaborations and boosting the commercial viability of Cyprus’ innovative enterprises. Furthermore, partnerships are expanding into areas such as artificial intelligence, ensuring Cyprus remains at the forefront of technological advancement.

Robust Funding And Measurable Impact

RIF’s initiatives have yielded quantifiable benefits for both the economy and society. Between 2023 and 2025, the foundation launched 90 calls for proposals and secured contracts valued at €100 million, supporting core pillars that include world-class research, business innovation, youth empowerment, and internationalization. The programs have generated 739 new jobs in advanced sectors—209 of which were occupied by women—and supported 372 businesses through 187 collaborative networks.

Leading The AI Revolution And Accelerating Commercialization

Artificial intelligence has been earmarked as a strategic national priority. As Skourides oversees a ten‐member task force to shape the updated, human-centric AI strategy, efforts are being redoubled to map the national AI ecosystem and bridge the divide between research centers and commercial applications. Initiatives such as the Disrupt programme, which leveraged €10.5 million in blended finance to mobilize an additional €12.5 million in private venture capital, illustrate Cyprus’ commitment to fostering high-growth companies.

Efficient Implementation And Inclusive Growth

Institutional reforms have dramatically improved performance metrics for state investments in research and innovation. Contract completion times have shrunk from 21 to 7 months, while payment processing now averages just 61 days compared to the previous 275 days. Generational and gender inclusivity have also become priorities, as evidenced by postdoctoral funding programmes that now see female coordinators representing over 61% of submissions and more than 76% of funded projects.

As Cyprus continues its evolution into a dynamic, innovation-driven economy, the nation stands as a reliable partner on the international stage. With groundbreaking partnerships, enhanced research infrastructure, and a strong emphasis on ethical and responsible technological advancement, Cyprus is well-positioned to capitalize on emerging opportunities in the global research landscape.

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Cyprus Income Distribution 2024: An In-Depth Breakdown of Economic Classes

by THEFUTURE.TEAM

December 24, 2025

New findings from the Cyprus Statistical Service offer a comprehensive analysis of the nation’s income stratification in 2024. The report, titled Population By Income Class, provides critical insights into the proportions of the population that fall within the middle, upper, and lower income brackets, as well as those at risk of poverty.

Income Distribution Overview

The data for 2024 show that 64.6% of the population falls within the middle income class – a modest increase from 63% in 2011. However, it is noteworthy that the range for this class begins at a comparatively low threshold of €15,501. Meanwhile, 27.8% of the population continues to reside in the lower income bracket (a figure largely unchanged from 27.7% in 2011), with nearly 14.6% of these individuals identified as at risk of poverty. The upper income class accounted for 7.6% of the population, a slight decline from 9.1% in 2011.

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Income Brackets And Their Thresholds

According to the report, the median equivalent disposable national income reached €20,666 in 2024. The upper limit of the lower income class was established at €15,500, and the threshold for poverty risk was set at €12,400. The middle income category spans from €15,501 to €41,332, while any household earning over €41,333 is classified in the upper income class. The median equivalents for each group were reported at €12,271 for the lower, €23,517 for the middle, and €51,316 for the upper income classes.

Methodological Insights And Comparative Findings

Employing the methodology recommended by the Organisation for Economic Co-operation and Development (OECD), the report defines the middle income class as households earning between 75% and 200% of the national median income. In contrast, incomes exceeding 200% of the median classify households as upper income, while those earning below 75% fall into the lower income category.

Detailed Findings Across Income Segments

Upper Income Class: Comprising 73,055 individuals (7.6% of the population), this group had a median equivalent disposable income of €51,136. Notably, the share of individuals in this category has contracted since 2011.
Upper Middle Income Segment: This subgroup includes 112,694 people (11.7% of the population) with a median income of €34,961. Combined with the upper income class, they represent 185,749 individuals.
Middle Income Group: Encompassing 30.3% of the population (approximately 294,624 individuals), this segment reports a median disposable income of €24,975.
Lower Middle And Lower Income Classes: The lower middle income category includes 22.2% of the population (211,768 individuals) with a median income of €17,800, while the lower income class accounts for 27.8% (267,557 individuals) with a median income of €12,271.

Payment Behaviors And Economic Implications

The report also examines how income levels influence repayment behavior for primary residence loans or rental payments. Historically, households in the lower income class have experienced the greatest delays. In 2024, 27.0% of those in the lower income bracket were late on payments—a significant improvement from 34.6% in 2011. For the middle income class, late payments were observed in 9.9% of cases, down from 21.4% in 2011. Among the upper income class, only 3% experienced delays, compared to 9.9% previously.

This detailed analysis underscores shifts in income distribution and repayment behavior across Cyprus, reflecting broader economic trends that are critical for policymakers and investors to consider as they navigate the evolving financial landscape.

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