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Cyprus Emerges as a Leading Force in European ICT Employment Growth

by THEFUTURE.TEAM
July 9, 2025

Accelerated ICT Expansion in Cyprus

Over the past decade, Cyprus has distinguished itself with one of the fastest growth rates in ICT employment across the European Union. According to Eurostat, the island nation experienced an average annual growth rate of 9.2% in ICT roles from 2014 to 2024. This robust increase highlights the nation’s strategic embrace of the digital economy.

Empowering Women in the Digital Sector

Notably, the surge in ICT employment has been exceptionally strong among women, who saw their numbers expand by an impressive 13.7% per year. This performance positions Cyprus as one of the EU’s top performing countries in advancing gender diversity in technology sectors.

European ICT Landscape: Trends and Targets

Across the EU, more than 10 million individuals were employed as ICT specialists in 2024, marking an increase from 2014 and representing 5.0% of the total employed population. Despite this growth, the current figures fall short of the ambitious Digital Decade goal of achieving 20 million ICT specialists by 2030. Countries like Sweden, Luxembourg, Finland, and the Netherlands continue to lead in the proportion of ICT employment, while nations such as Greece and Romania lag significantly behind.

Younger Workforce and High Educational Attainment

Cyprus not only exhibits robust growth in ICT roles but also features a notably younger workforce. In 2024, 41.9% of its ICT specialists were aged between 15 and 34, surpassing the EU average of 37.2%. Furthermore, over 80% of Cyprus’s ICT professionals hold higher education degrees, aligning it with countries like Ireland, Spain, France, and Belgium in academic excellence.

Closing the Gender Gap and Sectoral Insights

While men still dominate the ICT field, the gender gap has narrowed across the EU. The proportion of women in ICT roles rose from 16.2% in 2014 to 19.5% in 2024. Countries such as Estonia, Romania, and Bulgaria have recorded female participation rates above 27%, with Cyprus showing a significant improvement of 8.1 percentage points—the second highest EU-wide gain after Estonia.

Diverse Industry Involvement

ICT specialists are primarily concentrated in the information and communication sector where they now comprise 60.6% of employment. Other sectors experiencing significant ICT integration include finance and insurance (8.3%), professional, scientific and technical activities (8.1%), and utilities (7.7%). Between 2014 and 2024, nearly all major economic sectors saw an increase in ICT roles, with the information and communication sector alone witnessing a rise of 9.9 percentage points.

Conclusion

Cyprus’s dynamic ICT employment landscape is emblematic of broader European trends towards digital transformation. The nation’s rapid growth, coupled with strategic advancements in gender diversity and educational qualifications, underscores its emerging role as a powerhouse in the digital economy. As Europe continues to navigate its digital future, Cyprus’s experience offers valuable insights into leveraging ICT for sustained economic development.

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

by THEFUTURE.TEAM
September 11, 2025

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.

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