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Cyprus Economy Set For 3.4% Growth In 2024: Key Sectors Driving Prosperity

According to the latest figures from the Statistical Service, the Cyprus economy is projected to grow by 3.4% in real terms in 2024. When considering current price estimates, the Gross Domestic Product (GDP) is expected to expand by 6.6%.

Leading Sectors Fueling Growth

The primary sectors driving this impressive growth include:

  • Hotels and Restaurants
  • Information and Communication
  • Construction
  • Wholesale and Retail Trade, Vehicle Repair

These sectors have been vital in maintaining a robust economic trajectory despite various challenges.

Notable 2.6% Growth In Q4 2024

In the fourth quarter of 2024, the growth rate reached 2.6% compared to the same period in 2023. Adjusting for seasonal variations and workdays, growth stands at 2.9%.

Sectors Contributing To Q4 Growth

The continued expansion during the last quarter was mainly due to:

  • Hotels and Restaurants
  • Wholesale and Retail Trade
  • Information and Communication

It is important to note that the Construction sector faced a downturn during this period.

The overall expected 3.4% growth for 2024 reinforces a positive outlook for the Cyprus economy, highlighting its resilience and capacity to adapt in a dynamic global landscape. For further insights on this economic outlook, consider reading about how Cyprus inflation trends are shaping the financial landscape.

Esports Must Put Children’s Rights Ahead Of Competitive Ambitions, Report Says

Competitive gaming can help children build skills, find community and pursue achievement. However, as esports grows, young players face health, psychological and online safety risks, often without consistent safeguards, according to a new report from Save the Children.

The report, Protecting Child Rights in Esports, estimates that up to 300 million children worldwide participate in esports. It calls on the industry to prioritise the rights set out in the United Nations Convention on the Rights of the Child over competitive ambitions.

Potential risks include disrupted sleep, musculoskeletal pain, anxiety, depression, sexism and online harassment. Intensive training can also leave less time for education, family and friends.

“Esports offers exciting opportunities for children, but participation should never come at the expense of their rights, wellbeing or development,” said Theo Toresson, a psychologist and gaming expert at Save the Children.

Children must be treated “as children first and competitors second”, he added, calling for their involvement in decisions that affect them.

Training Standards Remain Uneven

The report highlights the lack of widely established standards for training hours and methods. Extended periods of sitting, insufficient breaks and schedules that interfere with sleep, exercise and schoolwork can affect young players’ health and development.

Poor posture and long sessions may also cause neck, shoulder and wrist pain, while late-night gaming can undermine sleep, concentration and mood.

Although some organisations provide guidance on breaks, nutrition, sleep and hydration, a representative of a national esports federation told the report that this advice often draws on separate studies rather than a centralised set of guidelines.

The report also notes positive findings: many professional esports players report satisfactory levels of physical activity, and higher-ranking players often place greater emphasis on fitness.

Online Harassment Adds To Mental Health Risks

Gaming communities and livestreaming platforms can help young players build connections and public profiles, but they may also expose them to cyberbullying, discrimination and privacy violations.

An analysis cited in the report examined chatrooms across 302 gameplay segments involving the 20 most popular Twitch streamers. It found sexist language in 62% of streams, racist language in 37%, ableist language in 84% and violent language in 97%.

Some esports federations and teams require staff to receive mental health first-aid training, but the practice remains uncommon. Young competitors may also face public scrutiny through livestreams, interviews and social media before they have the support to manage it.

Safeguards Must Extend Beyond Gameplay

The report raises further concerns about unequal participation linked to gender, race, LGBTQIA+ identity and disability. It also highlights children’s limited involvement in decisions affecting them and the risk of economic exploitation by teams, agents or parents, particularly where contracts lack transparency.

Inadequate supervision at live events presents additional risks.

Save the Children argues that protecting young competitors requires more than advice on posture and screen breaks. Clear standards, responsible oversight and age-appropriate safeguards are needed to ensure esports supports children’s development rather than putting it at risk.

As competitive gaming expands, the industry faces growing pressure to make children’s rights and wellbeing part of its operating standards.

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