Cyprus And UAE Strengthen Economic Bridge With Business Council Launch In Dubai

by THEFUTURE.TEAM

November 28, 2025

Establishing A Strategic Partnership

Cyprus has cemented its commercial relationship with the United Arab Emirates this week as Energy Minister George Papanastasiou inaugurated the Cyprus Business Council (CBC) in Dubai. The minister described this initiative as a tangible step toward further solidifying economic cooperation and expanding mutual opportunities between the two nations.

Connecting Markets For Sustainable Development

At the council’s founding ceremony and inaugural general assembly, held during the Doers Summit 2025, Minister Papanastasiou outlined the CBC’s mission to serve as a structured platform, facilitating meaningful exchanges among companies, investors, and innovators from both markets. Such collaboration is anticipated to drive sustainable growth through technology transfer, joint ventures, and shared prosperity.

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Focused Sectors: Energy, Innovation And Beyond

Systematic cooperation will now target a spectrum of sectors ranging from energy, innovation, and green technologies to tourism, maritime services, and infrastructure projects. Both Cyprus and the UAE are aligned in their ambition to advance fields like the food and water chain, digital assets, and digital transformation—efforts that promise significant regional and global impact.

Leadership And Industry Collaboration

The CBC, established by the Republic’s Trade Centre in Dubai under the auspices of Dubai Chambers, will be headquartered in the emirate and guided by a nine-member board. Key figures on the board include President Yiannos Olympios, Vice President Andrea Stephani, Treasurer Dina El Guindi, and Secretary Andreas Tsintos, together with noted professionals Demetris Zampoglou, Georgios Pantechis, Phoivos Stephanou, Theodoros Kriggou, and Michalis Nicolaou.

Government Endorsements And Future Outlook

Senior government officials were present at the ceremony, reflecting the importance of this initiative. Attendees included Mohammed Al Zarooni, Executive Chairman of the Dubai Integrated Economic Zones Authority, UAE Deputy Minister of Economy and Tourism Abdullah Ahmed Al Saleh, Cyprus Deputy Minister of Research, Innovation and Digital Policy Nikodemos Damianou, and Cypriot Ambassador to the UAE Meropi Christofi. Their presence underscores a robust bilateral commitment to innovation and economic development.

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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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