Cyprus Profile

Following the exit from the EU-IMF bailout programme in 2016, Cyprus has made significant progress towards improving its business environment, restoring the competitiveness of its economy and attracting foreign investment. Cyprus’ GDP is growing twice as fast as EU’s (3,7% against 1,9%, The Economist’s forecast for 2018). The country has put forward a strategy to become an investment hub in the eastern Mediterranean, an objective favoured by its strategic location, low taxation and the energy discoveries in the Levantine basin.

Nevertheless, the Cypriot banking system is still facing a high ratio of non-performing loans, while the energy exploration process in the region has recently triggered geopolitical tension, in relation to Turkey’s claims. A major challenge forward is also Brexit and its implications with regards to the UK-EU relations. Cyprus is a member of both the European Union and the Commonwealth of Nations, while significant Cypriot entrepreneurs are based in London and the island maintains a key role for the British and the EU policy in the broader Middle East region.

It is against this setting that The Economist Events have pleasure in staging their 3rd annual event, entitled “CYPRUS: Interweaving extroversion with aspiration”, at the London Stock Exchange.

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