Cyprus Recognised As Strong Innovator For Third Consecutive Year

Cyprus has maintained its position as a “Strong Innovator” in the European Innovation Scoreboard for the third consecutive year. Ranked 10th among EU member states, Cyprus achieved 106.3% of the European average, marking the highest growth in innovation performance across Europe since 2017. The Deputy Ministry of Research, Innovation and Digital Policy reported increases in 15 of the 32 assessed indicators this year. Notably, Cyprus excelled in categories like “Linkages” and “Attractive research systems,” showcasing effective collaborations and robust research outputs.

Innovation Ecosystem and Government Policies

Deputy Minister Dr. Nicodemos Damianou highlighted the significant evolution and performance of Cyprus’ research and innovation ecosystem, attributing success to effective government policies. The country aims to create favourable conditions for scientists and entrepreneurs, ensuring that research and development spending translates into tangible benefits for society and the economy.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Focus on Collaboration and Research Excellence

Cyprus was acknowledged as a top performer in “Linkages,” reflecting strong collaborations between innovative businesses and research institutions. Additionally, the country scored high in “Attractive research systems,” underscoring the quality of its international scientific publications and the presence of prestigious research institutions.

Commitment to Continuous Improvement

The Deputy Minister stressed the importance of continuously evaluating and improving the innovation ecosystem. Through a new impact assessment mechanism, the government aims to ensure that Cyprus’ trajectory in innovation remains on a path of substantial improvement, benefitting both the economy and society.

By maintaining its strong position in the European Innovation Scoreboard, Cyprus demonstrates its commitment to fostering a dynamic and innovative environment, driving progress and development across multiple sectors. This achievement reflects the country’s strategic focus on research, innovation, and collaborative growth, positioning it as a key player in the European innovation landscape.

The Future Forbes Realty Global Properties

Cyprus Services Sector Shows Robust Performance In 2025 As Tourism, Digital Innovation, And Shipping Surge

by THEFUTURE.TEAM

April 6, 2026

The Employers and Industrialists Federation (OEV) reported growth across Cyprus’ services sector in 2025, with increases recorded in tourism, professional services and administrative activities. Data show continued expansion across multiple sub-sectors, reinforcing the role of services in economic output and employment.

Service Sector Leadership

Accommodation and food services grew by 9.5%, while administrative and support activities increased by 7.4%. Professional, scientific and technical activities rose by 4.6%, followed by information and communication at 4.3%. Transport and storage recorded growth of 2.8%, while real estate activity increased by 0.4%. These figures indicate broad-based expansion across service industries.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

A Remarkable Tourism Surge

Tourist arrivals reached 4,534,073 in 2025, marking a 12.2% increase year-on-year. December arrivals totaled 156,959, up 18% compared with the same period a year earlier. Tourism continues to support revenue generation and seasonal demand across the economy. Growth in visitor numbers contributes to activity in hospitality and related sectors.

Driving Digital Transformation

OEV is supporting digital adoption through initiatives such as the DiGiNN Cyprus Digital Innovation Hub. The program focuses on improving business processes, skills development and technology integration. Additional efforts include the establishment of a Digital Transformation and Innovation Committee and international engagement through business missions. These actions support the adoption of digital tools across sectors.

Resilient Shipping Sector

Shipping accounted for about 7% of Cyprus’s GDP in 2025, remaining a key component of the economy. The Cyprus Registry recorded its highest tonnage in 20 years, with an increase of nearly 20%. Fleet growth strengthens Cyprus’ position within European Union shipping registries and global maritime markets. The sector continues to contribute to economic stability.

Strengthening The Economic Foundation

OEV is organizing conferences, workshops and exhibitions to support business development across sectors. These initiatives focus on improving operational practices and industry collaboration. Continued investment in services and digital infrastructure is expected to support economic performance.

Breaking news