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Overqualification Dilemma: Eurostat Reveals Alarming Rates

by THEFUTURE.TEAM

July 30, 2024

Eurostat’s latest report highlights a concerning trend for the Cypriot labour market in 2023: the overqualification rate among workers is significantly above the EU average. Cyprus, known for its highly educated workforce, finds a substantial portion of its talent working in positions that do not fully utilise their qualifications. This phenomenon is especially pronounced among women and non-EU nationals.

Key Findings

In 2023, Cyprus recorded an overqualification rate of 39.3% for non-EU citizens, 43.1% for EU nationals, and 27.5% for Cypriots. These figures represent a notable decrease from 2022 but still place Cyprus among the top EU countries with the highest rates of overqualified workers.

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Gender Disparity

The data reveals a stark gender disparity in overqualification rates. Women are significantly more likely to be overqualified than men across all worker categories. For non-EU women, the overqualification rate was 15.8 percentage points higher than for men. Among EU nationals and Cypriots, the rates were 12.6 and 5 percentage points higher for women, respectively.

Comparative Perspective

Cyprus ranks high alongside Greece, Italy, and Spain in terms of overqualification rates. While the EU’s average overqualification rate for non-EU citizens was 39.4%, Cyprus’ rate stood just below at 39.3%. However, the island nation still faces a challenge in ensuring that its workforce’s skills are effectively matched with job opportunities.

Implications for Policy and Economy

These findings highlight a critical issue for policymakers in Cyprus. Addressing the overqualification problem is essential for optimising the labour market and ensuring that the country can fully leverage its human capital. This situation calls for targeted strategies to create more high-skilled job opportunities and better align education outcomes with market needs.

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Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.