Nearly 17% of Cypriots Struggled To Heat Their Homes In 2023

by THEFUTURE.TEAM

January 24, 2025

According to the latest data from Eurostat, the European Union’s statistical agency, 16.9% of Cypriots were unable to adequately warm their homes in 2023, significantly higher than the EU average of 10.6%.

While the percentage marks an improvement for Cyprus—down 2.3 percentage points from 19.2% in 2022—it contrasts with a rising trend across the EU, where the average increased by 1.3 percentage points from 9.3% the previous year.

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Spain and Portugal topped the list of countries with the highest proportion of residents struggling to heat their homes, both at 20.8%, closely followed by Bulgaria (20.7%), Lithuania (20.0%), and Greece (19.2%).

On the other end of the spectrum, Luxembourg reported the lowest share of residents facing this issue at just 2.1%, with Finland (2.6%), Slovenia (3.6%), Austria (3.9%), and Estonia (4.1%) also ranking among the least affected nations.

Despite overall economic recovery efforts, the data highlights the persistent challenge of energy affordability in some parts of Europe, particularly in Southern and Eastern regions.

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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.

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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.

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