Cyprus Ascends Global Competitiveness Rankings Amid Strategic Reforms

Economic Resurgence Drives Climb

Cyprus has strategically improved its standings in the IMD World Competitiveness Yearbook 2026, rising to 42nd place among 70 economies from its 44th position in 2025. This advancement is underpinned by robust economic performance, enhanced business environments, and strategic infrastructure investments.

Enhanced Business Environment And Improved Efficiency

Significant improvements were recorded in key sectors. In economic performance, Cyprus surged six places, fueled by low unemployment, rising employment levels, moderate inflation, and sustained performance in services exports. The business environment mirrored these gains, with companies better positioned to manage risks and opportunities. These changes were bolstered by more effective board practices and a proactive shift in management values.

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Government And Infrastructure Challenges Remain

Despite these positive trends, challenges persist. The report highlights a four-place drop in government efficiency, primarily due to legislative constraints affecting businesses. Access to capital markets, limited incentives for artificial intelligence investment, and prolonged business registration times add to these challenges. Structural issues in infrastructure continue to hamper competitiveness, especially in basic facilities, water resource management, and energy production, where high electricity costs remain problematic.

Balancing Fiscal Strength With Future Investments

Cyprus’ strong fiscal performance, characterized by continued budget surpluses, reduced public debt, and improvements in creditworthiness, has helped to cushion the impact of some of these setbacks. However, lingering issues such as underperformance in research and development, corporate governance, and government effectiveness indicate that further strategic reforms are necessary to sustain long-term growth.

Outlook For A Competitive Future

The yearbook findings also underscore improvements in foreign direct investment, economic resilience, and the country’s international image. Business executives have lauded Cyprus for its competitive tax framework and business-friendly policies, which continue to attract investors. Nevertheless, the ongoing challenges serve as a reminder that a concerted effort in addressing regulatory and infrastructural shortcomings is essential for Cyprus to maintain and build on its competitive trajectory.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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