Cypriots: Capable Yet Hesitant in Entrepreneurship

by News Editor

April 29, 2025

A recent study from the University of Cyprus’s Entrepreneurship Center sheds light on Cypriots’ views towards starting businesses. While 39.8% see favorable opportunities, 60.5% believe in their capabilities, yet 53.3% are deterred by the fear of failure.

The Power and Presence of Small Enterprises

Cyprus plays host to approximately 125,000 businesses, significantly contributing to a workforce of about 500,000. The dynamics of these enterprises highlight their pivotal role in shaping the nation’s economic landscape.

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Progress in the Entrepreneurial Sphere

This eighth participation in the Global Entrepreneurship Monitor (GEM) reveals a positive trend with an increase in new business ownership, now at 4.7%. Additionally, there’s notable optimism among younger individuals aged 18-34, who lead with a 14.4% engagement in startups.

Gender and Age Dynamics

Despite improvements, gender disparity remains, with 14.5% of men versus 4.9% of women initiating entrepreneurial activities. Furthermore, Cyprus ranks sixth in Europe for established business ownership, attesting to its mature business ecosystem.

Reflective of global ambitions, the study suggests financial education and policy adjustments for fostering entrepreneurship. Actions like mentoring programs and governmental incentives could drive Cyprus’s business potential forward.

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Cyprus Expects More French Visitors In 2027 As Air Capacity Expands

by THEFUTURE.TEAM

September 18, 2026

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

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Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.

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