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Cyprus Faces Deepening Labour Shortages In Health, Technology And Tourism

Cyprus is facing significant labour shortages across key sectors of its economy, according to the annual EURES report on labour shortages and surpluses for 2025, based on 2024 data. The findings point to persistent strain in the labour market and growing pressure on employers trying to fill critical roles.

Health, Technology And Tourism Lead The Shortage List

The most acute shortages are concentrated in health care, information technology and tourism — three sectors that are central to Cyprus’s economic model and service capacity.

Within health care, the report highlights shortages among nurses, midwives, medical imaging technicians and doctors, with the lack of personnel described as particularly severe.

In technology, shortages are reported for systems analysts, software and applications developers, web and multimedia developers, and ICT sales professionals.

Tourism and hospitality are also under pressure, with vacancies affecting waiters, chefs, cooks, hotel reception staff and restaurant managers. The report also notes significant demand for bus drivers, underscoring broader transport constraints linked to the sector.

Medium And Lower-Intensity Gaps Across The Economy

The shortage is not limited to highly specialized professions. The report also identifies moderate shortages in occupations such as electricians, mechanical technicians, sales workers, cashiers, builders, welders, heavy vehicle drivers, and workers in agriculture, livestock and construction.

At a lower level of severity, shortages appear among engineers in various specializations, health assistants, carpenters, plumbers, electrical technicians and bakers.

Broader European Imbalances Remain Persistent

Across the European Union, EURES notes that labour shortages remain widespread, but are concentrated in a limited number of member states. That pattern, the report suggests, leaves room for stronger cross-border mobility as a policy tool.

In countries such as Bulgaria, Italy and the Netherlands, employers struggle to fill a broad range of positions. By contrast, Latvia, Austria and Finland more frequently report labour surpluses.

Notably, 98% of occupations experiencing shortages in at least one member state also show surpluses in another EU country, highlighting the scale of labour mismatches across the bloc.

What Is Driving The Imbalance

The report attributes these imbalances to several structural factors, including limited awareness of job opportunities abroad, difficulties in recognising professional qualifications, language barriers and wage differences.

Particular attention is given to health and care professions, where an ageing population is increasing demand for services. The same pressure is evident in green-transition occupations such as electricians and other skilled tradespeople.

Policy Responses And Workforce Priorities

Among the report’s key recommendations are simpler procedures for recognising qualifications, stronger vocational training, improved job quality and better use of untapped labour pools, including women, older workers and migrants.

For Cyprus, the message is clear: addressing labour shortages will require more than short-term hiring fixes. It will demand coordinated policy action, targeted skills development and a labour market capable of adapting to demographic and technological change.

Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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