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Average Wages In Cyprus Rise 4.9% To €2,605 In 2025

Overview Of Wage Growth In Cyprus

Average wages in Cyprus increased by 4.9% in 2025, according to preliminary data from the Statistical Service. Gross monthly earnings reached €2,605, up from €2,483 in 2024. This follows a 5.1% increase recorded a year earlier, when the median gross monthly wage stood at €1,968, indicating sustained wage growth across consecutive years.

Quarterly Performance And Seasonal Trends

Against this annual backdrop, fourth-quarter data show a similar upward trend. Average gross earnings rose to €2,932 in Q4 2025, compared to €2,810 in the same period of 2024, reflecting a 4.4% increase. On a seasonally adjusted basis, wages grew by 1.1% compared with the third quarter, indicating more moderate short-term momentum.

Gender-Based Wage Differentiation

While overall wages increased, differences between male and female earnings remain. In the fourth quarter, male employees earned an average of €3,102, compared to €2,718 for female employees. On an annual basis, wages rose by 4.2% for men and 4.5% for women, suggesting similar growth rates but leaving the overall pay gap largely unchanged.

Nationality And Earnings Bracket Distribution

Beyond gender, wage distribution also varies by nationality. Among Cypriot employees, 42.8% fall within the €1,500–€2,999 income range. In contrast, non-Cypriot workers are more concentrated in lower income brackets, with 47.7% earning below €1,500. A similar pattern appears across gender lines, where 38.8% of women fall below €1,500, compared to a higher share of men (40.5%) in the €1,500–€2,999 range.

High Earners And Overall Implications

At the upper end of the scale, the distribution shifts again. Non-Cypriot employees, while overrepresented in lower wage brackets, also account for a higher share of top earners with incomes above €6,000. Cypriot employees, by comparison, are more concentrated in middle and upper income categories. Together, these patterns highlight structural differences in the labor market, particularly across nationality and income levels.

Eurobank Launches First UPI Cross-Border Payment From Greece To India

Eurobank has launched its first cross-border payment from Greece to India through the Unified Payments Interface (UPI), marking a new step in the bank’s international expansion and its strategy to strengthen financial ties between Europe and India.

The transaction, completed in cooperation with NPCI International, follows the launch of Eurobank’s new payment service. The inaugural payment was made in the presence of India’s Commerce and Industry Minister Piyush Goyal, Eurobank Chief Executive Fokion Karavias and senior executives from NPCI International.

A Strategic Bet On India’s Digital Payments Ecosystem

According to Eleftherios Vlachogiannis, Eurobank’s head of transaction banking, the service currently supports outgoing payments by Indian citizens living in Greece to recipients in India, representing the first phase of a broader collaboration with NPCI International.

UPI is operated by NPCI International. By integrating the system into its e-banking platform and mobile app, Eurobank enables customers to make real-time transfers.

“The most important aspect is the philosophy behind the initiative,” Vlachogiannis said. “Instead of creating another closed payment system, we are integrating mature and internationally recognised payment ecosystems into the bank’s services so customers enjoy a simple, secure and modern transaction experience.”

He added: “Innovation creates value when it delivers a genuine benefit for the customer.”

Building A Financial Bridge Between Europe And India

The UPI launch follows Eurobank’s opening of a representative office in Mumbai, making it the first Greek and Cypriot bank with a physical presence in India. The bank has also expanded its presence through the India-Greece-Cyprus Business and Investment Council, a technology centre in Pune and partnerships with Indian institutions.

Vlachogiannis said India’s economic growth and closer ties with the European Union support the bank’s long-term strategy. He also pointed to progress in negotiations on the EU-India Free Trade Agreement.

Mumbai Office Serves As A Regional Business Hub

Eurobank’s Mumbai office supports businesses seeking to establish operations between India, Greece, Cyprus and the wider European market. It provides access to banking services, business networks and market support.

For Greek companies expanding into India, the bank offers international payments, foreign exchange management, trade finance and supply chain finance. Indian businesses investing in Greece, Cyprus or elsewhere in the European Union can also access financing and corporate banking services through Eurobank.

Aiming To Strengthen The India-Europe Corridor

Looking ahead, Eurobank said it will continue investing in technology, international payments, trade finance and partnerships with Indian organisations.

“Our ambition is to act not only as a banking services provider but also as a strategic partner for businesses and investors seeking to benefit from the opportunities created by this dynamic market,” Vlachogiannis said.

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