The professional services sector plays a significant – and rapidly expanding – role in the Cyprus business landscape. Finance, insurance and business services are the main contributors, followed by wholesale and retail trade, then social and personal services. In fact, the growth rate of this sector is significantly higher than that of the economy as a whole.
You may download the following document to find out more regarding the Cyprus Services Sector and the Government strategy .
Tourism plays a major role in the Cyprus economy, accounting for around 20% of the country’s Gross National Product. To support this booming industry, airports, hotels and a whole host of further hospitality facilities have been developed. More than 30 scheduled airlines now fly in and out of Larnaca and Pafos international airports on a regular basis, along with a host of charter airlines.
The resulting infrastructure is also ideal for the travelling business community, with local hotels developing extensive conference facilities. Meanwhile, efforts are ongoing to constantly upgrade the local tourism product. New marinas are planned, along with a number of new golf developments, to ensure that players need never stray too far from the fairway!
The accounting profession is very well represented, with many international companies operating on the island, as well as a number of private individuals providing personal services. The banking sector is very highly developed and offers full and varied local, national and international services for individuals and professional bodies.
Local business and financial consultants have typically trained at European or US universities and many have worked overseas before setting up in Cyprus. They offer advice on the whole spectrum of modern business and investment.
Information Technology is a vital element of any modern business centre and Cyprus has embraced high-tech on a major scale. Many of the world’s leading IT-based companies have chosen Cyprus as their base for expansion in the region, while an efficient island-wide IT network has also been established.
Sales, marketing and public relations services are of a high standard on the island with many resident professionals ready to help in promotion, both on the island and in overseas markets. Over 100 design companies also operate locally, as well as a considerable number of freelance designers, all of whom contribute to marketing and advertising cam pains, both national and international.
If you would like to obtain more information about the Professional Services offered in Cyprus, including the areas of Accounting, Banking & Financial Services, Business Consulting, Computing & IT, Design, Education, Engineering, Legal Services, Marine & Shipping, Private Healthcare, Risk Management, Sales & Marketing, Tourism, Travel & Conferences, please visit Cyprus Professional Services.
You may also download the Cyprus Means Business guide to find out more about the wide range of business services that Cyprus can provide.