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Protecting Cyprus: The Urgent Battle Against Coastal Erosion

by THEFUTURE.TEAM

October 29, 2024

The coastlines of Cyprus face a significant threat from erosion, with some areas losing up to 50 centimeters annually. The Ministry of Transport has identified the urgent need to protect approximately 78 kilometers of coastline based on a comprehensive study.

Since 2012, various projects have been initiated, with significant work completed in Geroskipou, Germasogeia, Paphos, Larnaca, Pervolia, and Polis Chrysochous. Ongoing projects in Oroklini, Pervolion, and Chloraka are set for completion by 2024.

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Studies are also in progress for several other critical areas, including Cape Dolos to Tremitho River, Kourio Bay, and Agios Tychonas, among others. The coastal erosion issue has been apparent since the early 1980s, stemming from both natural factors like climate change and human activities such as coastal construction and river damming.

After the Turkish invasion, there has been a noticeable increase in demands for the improvement and development of Cyprus’s coastlines to boost tourism and the economy. In a 1993 study, the coastal zone was divided into 12 sub-regions, leading to various protection plans for areas like Larnaca and Limassol.

Scientists warn that by 2150, some regions, including parts of Limassol Bay and Larnaca, may face severe erosion and potential submersion. Climate Central’s research predicts that areas like the Lady’s Mile and Mackenzie Beach could be particularly vulnerable.

Despite these alarming projections, local officials believe the sea level won’t pose a significant threat in the next three decades, noting only a five-centimeter rise since 2000. The fluctuations in water levels are about 30 centimeters, but current trends suggest a receding coastline, minimizing immediate concerns.

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Cyprus Tech Sector Propels Economic Growth and Reshapes Talent Landscape

by THEFUTURE.TEAM

May 17, 2025

Robust Economic Expansion

At the recent TechIsland Summit, Christophoros Anayiotos, Head of Deal Advisory at KPMG Cyprus, delivered a compelling assessment of the island’s burgeoning tech ecosystem. The 2024 report highlights that the technology sector now contributes 16% of Cyprus’ total Gross Value Added (GVA), up from 12.6% in the previous year. Overall, the sector’s economic impact is estimated at €8.5 billion, with direct contributions of €4.7 billion and an additional €3.8 billion generated indirectly.

Sectoral Contributions and Productivity

Using the Leontief Input-Output Model, the study covers key areas including ICT, professional scientific and technical activities, as well as tech-driven financial and insurance services. Notably, the ICT segment itself delivers €3.4 billion in direct GVA, while professional services and financial operations contribute €840 million and €505 million respectively. This horizontal spread of technological influence underscores the industry’s pivotal role in driving multifaceted business growth.

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Resilience During Economic Downturns

Even amid challenging economic conditions, the tech sector has demonstrated remarkable resilience. In the pandemic-stricken year of 2020, while the broader Cypriot economy contracted by 3%, the ICT sector experienced a robust growth rate of 21%. This momentum accelerated further to a striking 38% growth in 2021, reinforcing technology’s role as a stabilizing economic force.

Divergent Trends in Employment

Anayiotos’ analysis reveals that the tech sector now sustains over 62,000 full-time equivalent jobs in Cyprus, with 45,900 direct and 16,300 indirect roles. For every €1 million in increased sector revenue, approximately 13 jobs are generated. Despite the overall employment surge, there has been a significant shift in workforce composition. In 2015, Cypriot nationals comprised 88% of ICT employees; by 2024, this figure dropped to 50%, with non-EU nationals accounting for 42% and other EU citizens 8% of the workforce.

Cyprus as an EU Leader in ICT

Cyprus now holds a prominent place in the EU, ranking second in the EU27 for ICT’s share of national GVA at 11.4%, a notable rise from 9.4% in 2023. Furthermore, the island leads the bloc in ICT GVA growth, posting a remarkable 347% increase between 2015 and 2024. With a top-five ranking in GVA per ICT employee—whereby each contributes approximately €130,000, compared to the EU average of €116,000—the country’s technology workforce has expanded at an annual growth rate of 12.1%, from 9,300 in 2015 to 26,000 in 2024.

Strategic Imperatives for Future Growth

Anayiotos emphasizes the need for strategic enhancements to sustain this expansion. Key recommendations include improving air connectivity, joining the Schengen Area to boost mobility, and attracting more international banking institutions. Additionally, introducing tax incentives designed to favor stock options is considered crucial in luring and retaining skilled talent. Addressing the limited capacity in private education is also vital to accommodating professionals relocating with families.

Investing in Talent and Digital Transformation

Looking forward, investments in education and digital upskilling remain paramount. There is a clear call for a national initiative aimed at promoting STEM careers, elevating the digital skills of both students and educators, and accelerating the digital transformation of public services. Moreover, streamlining legal procedures will be critical to improving the overall business climate and competitiveness.