Companies in Cyprus weathered the health, price and trade shocks of the past five years relatively well, according to a European Investment Bank (EIB) Group survey. Cypriot businesses are also more integrated into global trade than their peers elsewhere in the European Union, new country results from the EIB Group Investment Survey (EIBIS), published Wednesday, show.
According to an EIB press release, 81% of Cypriot firms are integrated into global trade, compared with a 63% average in the EU. Moreover, the survey shows that investment in Cyprus is 18% above pre-COVID levels in real terms, with most Cypriot firms saying they are satisfied with their investment spending.
The survey also found that companies in Cyprus have a higher proportion of women in senior management (44%) than businesses in the EU as a whole, where the average is 23%.
However, Cypriot firms report lack of staff with the right skills and insufficient finance as investment obstacles more than EU-based companies as a whole.
EIBIS is an annual report based on polling of approximately 13,000 firms across all EU Member States plus a sample from the United States. Its main results were released in October 2024, showing that EU businesses lead way in investments in climate mitigation and adaptation. The detailed country reports for individual EU countries were released on Wednesday.
“The EIB Investment Survey highlights the remarkable resilience and outward focus of Cypriot businesses. With investment levels significantly exceeding pre-pandemic figures and a leading integration into global trade, Cyprus is well-positioned for sustainable growth”, said EIB Vice-President Kyriacos Kakouris. “As companies continue to prioritise modernisation and innovation, I am optimistic that these investments will drive long-term prosperity and competitiveness in the country”.
Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg.
The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe’s policies, including industrial decarbonisation, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is investing in a more sustainable and secure Europe.
