One In Three Cypriots Open To Using Digital Euro

by News Editor

August 19, 2026

Around one in three Cypriots say they would use the digital euro in their daily lives, despite limited awareness of the new form of money, according to the first islandwide survey published by the Central Bank of Cyprus.

With the first issuance currently expected in 2029, the findings suggest that public education will be crucial, particularly among people who rely more heavily on cash or have less experience with digital tools.

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Awareness Remains Low

Some 61% of respondents say they have no knowledge of the digital euro, while just 1% consider themselves fully informed.

Awareness is higher among people under 65, those with tertiary education and employed respondents. Among those who have heard of the digital euro, awareness is also more common among men, higher-income and more highly educated people, as well as urban residents.

Social media is the leading source of information, cited by 49% of respondents, followed by television at 30%.

35% Would Use The Digital Euro

Despite the knowledge gap, 35% say they are willing to use the digital euro in their daily lives. This is particularly true among people under 45, employed respondents and those with higher education and incomes.

Among potential users, 41% would use it for purchases in physical shops, 40% for online shopping and 33% for person-to-person payments.

By comparison, 28% say they are somewhat or very unlikely to use the digital euro.

Privacy And Cash Are Main Concerns

The biggest concerns are the possibility of transactions being tracked and fears that cash could eventually be abolished, cited by 53% of respondents.

Another 38% are concerned about security, while 25% worry about managing their spending. Some 30% have significant concerns about the ease of using the digital euro.

For businesses, 9% say their willingness to accept digital euro payments would depend on factors such as cost, ease of implementation and demand, while 27% say they would not accept such payments.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.

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