2023-Cyprus-Country-Report
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
CYPRUSCOUNTRY REPORT <strong>2023</strong><br />
4th<br />
IN EMERGING EUROPE<br />
11th<br />
GLOBALLY<br />
<strong>Cyprus</strong> is one of the top<br />
overachievers in the Greenfield<br />
FDI Performance Index of <strong>2023</strong><br />
3rd<br />
worldwide in the post-pandemic<br />
recovery of foreign<br />
direct investments<br />
€4.6<br />
billion<br />
direct and indirect economic<br />
impact of the <strong>Cyprus</strong> ICT<br />
sector at the end of 2022<br />
á600%<br />
increase in software and<br />
IT investments in <strong>Cyprus</strong><br />
between 2019 and 2022<br />
Source: FDI Intelligence<br />
Source: FDI Intelligence<br />
IIn 2017-2021 the top three sectors<br />
<strong>Cyprus</strong> (UCLan), being the first British<br />
university to establish a campus on the<br />
island. This has since been followed by for inward FDI were real estate,<br />
the American University of Beirut (AUB),<br />
information and communications,<br />
which established a €29 million campus<br />
in Paphos in <strong>2023</strong> – branded AUB- and professional services.<br />
Mediterraneo. The aim is to accommodate over 2,000 students in the coming years.<br />
<strong>Cyprus</strong> hosts an impressive and fast-growing R&I ecosystem, featuring high quality<br />
academic and research institutions and seven Centres of Excellence (CoE). The <strong>Cyprus</strong><br />
Institute has established itself as a significant research institute with global networks<br />
of excellence supported by significant EU funding. The number of foreign students<br />
choosing <strong>Cyprus</strong> for their studies has almost tripled in the last five years, representing<br />
over 60 different countries and supporting the growth of <strong>Cyprus</strong> into a true global<br />
educational centre. This fact underlines the great opportunities that exist in <strong>Cyprus</strong> for<br />
the establishment of new universities, colleges and institutes.<br />
35
Change language