articles | 29 August 2022

67% of Cyprus businesses have elementary use of digital technology

67% of Cyprus businesses, and 55% across Europe, had achieved an elementary level use of digital technology in 2021, a Eurostat report shows.

Elementary level is defined as the use of at least four of a total of 12 measured digital technologies (such as the use of artificial intelligence or a level of at least 1% of sales coming from electronic transactions).

One of the objectives of the EU Digital Compass policy is for at least 90% of SMEs in the EU to have at least a basic level of digital intensity by 2030.

In Cyprus 33% of businesses are in the category of very low digital intensity (44%  EU average), 41% low digital intensity (34% in the EU), 23% in the category of high digital intensity (19% in the EU) and 3% in the category of very high digital intensity (3% in the EU).

In relation to company size, 66% of SMEs in Cyprus had achieved the basic level of digital intensity in 2021 (55% in the EU), compared to 96% of large enterprises (88% in the EU).The highest percentages of companies in the high category of the index were recorded in Finland, Denmark and Malta (10% in all three) and Sweden (9%). At the other end of the scale, in Romania and Bulgaria 77% and 74% of businesses respectively were of very low digital intensity. The same report said that the adoption of digital technologies can increase competitiveness, while as seen during the pandemic, it is critical to improving the financial viability of businesses.

Source: Cyprus Mail 

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