Marios Georgiou: Illuminating Cypriot Gymnastics On A Continental Stage

by News Editor

February 27, 2025

In an electrifying moment for Cypriot sports, Marios Georgiou has clinched the title of Male Gymnast of the Year, following a vigorous vote organized by European Gymnastics. This victory underscores Marios’s ongoing dedication and success, resonating deeply within the gymnastics community—not just in Cyprus, but across Europe.

According to the Cyprus Gymnastics Federation, the prestigious accolade was earned through the support of 26,260 votes, amounting to 50.6% after just six days of voting. The federation conveyed their pride, stating, “Marios continues to make us proud with his distinctions and make history in gymnastics!”

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Echoing this sentiment, the Cyprus Sports Organisation extended its own congratulations, reinforcing Marios’s impact on Cypriot sports: “Congratulations to Marios Georgiou who continues to make history and leave his imprint on Cypriot gymnastics!”

Further commendations came from President Nikos Christodoulides, who highlighted the significance of Marios’s achievements. “His great distinctions, such as being declared European champion in the combined individual at the European Championships in Rimini, Italy, in 2024, as well as ranking sixth at the Olympic Games in Paris, have brought him to the highest podium in Europe,” the President articulated in his statement.

With athletic prowess like Marios Georgiou’s, Cyprus continues to fortify its place on the world map, heralding a bright future for the island’s sporting landscape.

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Foreign Firms Contribute €3.5 Billion To Cyprus Economy In 2023

by THEFUTURE.TEAM

November 12, 2025

Recent Eurostat data reveals that Cyprus remains an outlier within the European Union, where foreign-controlled companies contribute minimally to the nation’s employment figures and economic output. While these enterprises have a substantial impact in other member states, in Cyprus they account for only 10 percent of all jobs, a figure comparable only to Italy and marginally higher than Greece’s 8 percent.

Employment Impact

The report highlights that foreign-controlled companies in Cyprus employ 32,119 individuals out of a total workforce that, across the EU, reaches 24,145,727. In contrast, countries such as Luxembourg boast a 45 percent job share in foreign-controlled firms, with Slovakia and the Czech Republic following closely at 28 percent.

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Economic Output Analysis

In terms of economic contribution, these enterprises generated a total value added of €3.5 billion in Cyprus, a small fraction compared to the overall EU total of €2.39 trillion. Notably, Ireland leads with 71 percent of its value added stemming from foreign-controlled firms, followed by Luxembourg at 61 percent and Slovakia at 50 percent. On the lower end, France, Italy, Greece, and Germany exhibit values below 20 percent.

Domestic Versus Foreign Ownership

The data underscores Cyprus’s heavy reliance on domestically controlled enterprises for both employment and economic output. However, it is important to note that certain businesses might be owned by foreign nationals who have established companies under Cypriot jurisdiction. As a result, these firms are classified as domestically controlled despite having foreign ownership or management components.

Conclusion

This analysis emphasizes the unique role that foreign-controlled enterprises play within the Cypriot economy. While their overall impact is limited compared to some EU counterparts, the presence of these companies continues to contribute significantly to the island’s economic landscape.

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