Robust Growth In A Challenging Landscape
The President of the Republic, Nikos Christodoulides, highlighted Cyprus’ recent economic performance during the 18th In Business Awards 2026 gala dinner, pointing to 3% economic growth in the first quarter of the year — the highest rate in the European Union.
He also noted that unemployment has fallen below 5%, placing Cyprus among the countries with the lowest unemployment levels in Europe despite continued geopolitical tensions, energy market volatility and broader global economic uncertainty.
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Honoring Innovation And Strategic Investment
During his address, Christodoulides emphasized the role of entrepreneurs, investors and business leaders in strengthening Cyprus’ economic resilience and competitiveness. The awards ceremony, he said, reflects the country’s broader effort to support innovation, entrepreneurship and long-term economic development.
Fiscal Responsibility And Economic Resilience
The President also stressed the importance of fiscal discipline and stable economic management in helping Cyprus withstand both domestic and external pressures. He said continued upgrades from international credit rating agencies have strengthened investor confidence and improved Cyprus’ ability to attract high value-added investment. According to Christodoulides, those investments are contributing to trade growth while reinforcing Cyprus’ position as a business and investment gateway to the European market.
Aligning Education With Market Demands
Alongside economic reforms, the government is continuing efforts to align education more closely with labour market needs. Initiatives include expanding technical education programmes, introducing vocational guidance from an earlier stage in schools and updating curricula to place greater emphasis on practical skills development. The reforms are intended to better prepare future workers for evolving market conditions and emerging industries.
Forging Strategic Global Partnerships
International engagement remains a cornerstone of Cyprus’s strategy. President Christodoulides highlighted ongoing efforts to deepen ties with strategic partners such as India and Kazakhstan. His recent travels to Mumbai and New Delhi followed a landmark visit by Indian Prime Minister Narendra Modi in June, heralding a new chapter in Cyprus–India relations. This renewed collaboration is designed to unlock opportunities in technology, innovation, education, energy, and tourism, positioning Cyprus as a strategic European hub with a global footprint.
Nurturing Talent And Sustaining A Growth Trajectory
The president also highlighted initiatives such as the “Minds in Cyprus” campaign, developed together with Invest Cyprus, which aims to attract and retain skilled professionals. According to the government, strengthening human capital remains central to Cyprus’ long-term economic strategy and competitiveness.
A Vision For A Resilient Future
Through prudent policy-making, strategic investment in education, and dynamic international outreach, Cyprus is building the foundations for a new era of stability and prosperity. As the In Business Awards celebrate those who actively contribute to this vision, the President’s remarks serve as both a commendation of current achievements and a clarion call to further reinforce the nation’s competitive and resilient economic structure.
