Recent Eurostat data show that Cyprus recorded one of the lowest levels of engagement with multinational enterprise groups in 2024.
Low Participation And Structural Differences
A total of 3,390 multinational enterprise groups operated in the country, accounting for 18% of employment. This places Cyprus alongside Greece and Iceland among economies with lower reliance on multinational groups.
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The Wider European Context
Across the EU and EFTA, 149,678 multinational enterprise groups were recorded in 2024. Companies under EU control accounted for 64.3% of the total, while EFTA-controlled groups represented 9.4%. Germany led with 15,342 groups, followed by the Netherlands with 13,805 and Switzerland with 10,824.
Global Corporate Influence
Groups controlled outside the EU and EFTA accounted for 26.3% of the total. The United Kingdom led with 14,118 groups, followed by the United States with 8,003 and China (including Hong Kong) with 2,135. Multinational enterprise groups employed 51.6 million people across the region, representing 30% of total employment in the business economy.
European Employment Landscape
Employment in multinational enterprise groups reached 54% in Luxembourg, with the Czech Republic and Sweden at 44% each. Levels in Switzerland and Norway stood at 43% and 42% respectively. In comparison, Cyprus recorded a lower share at 18%, indicating more limited reliance on multinational enterprise groups within its employment structure. Differences across countries point to varying roles of multinational enterprises in national economies, with implications for investment patterns, labour markets and sector composition. These data provide a basis for assessing how multinational activity contributes to employment across European markets and how national economic structures differ.
