Cyprus’ Economy Sees 3.4% Growth As GDP Climbs To €33.57 Billion

by News Editor

April 23, 2025

Despite global economic challenges, Cyprus has achieved a noteworthy economic growth rate of 3.4% in real terms for 2024, boosting its GDP to €33.57 billion at current prices. According to the latest report from the national statistical service, real GDP stands at €28.75 billion, with data revisions reflecting updates to the balance of payments and fiscal statistics as the base year shifts from 2010 to 2019.

Pivotal sectors driving this growth include hotels and restaurants, the ICT sector, construction, and wholesale & retail trade. These industries have displayed strong contributions using the production approach, positioning Cyprus as a resilient player in the European economic landscape. For a deeper dive into Cyprus’s economic health, take a look at Cyprus’ Progress Towards Schengen Membership: An In-Depth Look.

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Adding to the positive economic narrative, the government reports a fiscal surplus of €1.44 billion, representing 4.3% of GDP, while public debt has decreased to €21.83 billion (65% of GDP). Revenue surged by €1.18 billion over 2023, chiefly from VAT and income taxes, while property income fell. Expenditure rose modestly by 2.1% to €13.42 billion, with capital expenditure recording a notable decrease of 23.2%, reaching €1.21 billion.

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Truecaller Expands Strategic Portfolio With New Esim Services For Global Travelers

by THEFUTURE.TEAM

May 21, 2026

Innovative Expansion In Mobile Connectivity

Truecaller, the renowned caller ID service provider, has launched a new suite of eSIM services tailored for global travelers. This move is a critical component of the company’s broader strategy to diversify revenue streams amid a challenging advertising market.

Strategic Diversification And Robust Product Offerings

New eSIM plans range from 1 GB packages valid for seven days to larger 20 GB plans covering a 30-day period. Services are initially available across 29 countries, including Italy, Sweden, Spain, France and Germany. International travellers are the primary target audience, particularly users seeking alternatives to traditional roaming services.

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Targeted Global Rollout And Regulatory Nuances

Despite being one of Truecaller’s largest markets, India was excluded from the initial rollout because of local telecom regulations. Management’s approach reflects a focus on markets with more accessible regulatory frameworks for digital telecom services.

Leveraging Established Partnerships And Trust

Support for the platform comes through partnerships with Telna and Telness Tech. Truecaller Chief Operating Officer Fredrik Kjell said the company’s existing user base provides a major advantage in the growing travel eSIM segment. More than 500 million people already use the platform each month, allowing Truecaller to introduce additional services directly within its existing ecosystem, according to Kjell.

Positioning For Resilient Revenue Streams

Recent expansion efforts follow weaker advertising performance and workforce reductions at the company. Subscription products and premium services, including AI Assistant and Family Protection, have become increasingly important as Truecaller seeks to diversify monetisation channels.

Competitive Landscape And Future Outlook

Competition in the eSIM market continues to intensify with companies such as Airalo, Holafly, Roamless and NordVPN’s Saily service expanding globally. Truecaller’s strategy focuses on leveraging its large international user base while broadening its role beyond caller identification into mobile connectivity and digital communication services.

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