Unveiling the Paphos Marina: A Landmark Multimillion-Euro Development

by News Editor

February 24, 2025

The long-awaited construction of the Paphos Marina is finally stepping into reality, set to transform Cyprus’s coastline with a blend of residential, commercial, and maritime excellence.The Ministry of Tourism is poised to initiate the tendering phase, inviting bids for this ambitious project on April 2, 2025, as announced in their official Brief report.

Strategically designed to include a full-scale Design, Build, Finance, Operate, and Transfer concession, the marina will host 1,000 vessels, with 650 sea berths and 350 on land for maintenance and storage. Located in Kissonerga, this expansive 155,000 square-meter facility will not only boost Cyprus’s maritime sector but also open official entry pathways to the country.

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The bid process comprises two crucial phases: Expression of Interest, followed by the Invitation to Tender, with pre-selected candidates submitting comprehensive proposals.

Amid economic stakeholder input gathered by January 22, 2025, the goal is clear: attract the right investors and lock in advantageous concession terms for Cyprus. Additionally, the revamped infrastructure will offer luxury accommodations under long-term leases and modern administrative facilities.

This €400 million development, initially envisioned in 1990, promises to strengthen local tourism with state-of-the-art docking facilities, residential areas, and hotel accommodations. Business experts in Paphos continue to closely monitor the process, ensuring milestones are met to avert further delays.

Exciting times are ahead for maritime tourism as the final contract award is anticipated in early 2026, echoing a significant leap forward for Paphos Marina’s enduring vision.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.

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