The report findings demonstrate that the professional services sector has become the main driver of jobs and growth in Cyprus, especially during the economic crisis. During the past five years, international services (professional services and international financial services) grew 40 times faster than tourism and created considerably more jobs. The research notes that professional services do not compete with other sectors of the economy but rather complement and support their development and concludes with ten, strategic and actionable recommendations for policy makers, the sector and the sector representatives (voice of the industry) that could support economic growth in the next 12 to 24 months without depleting budgetary resources.. According to the authors of the report the adoption of these specific recommendations could lead to the creation of 9,700 new jobs in 5 years, bringing in extra tax and social insurance revenue to the government of €13 million per year.
Download the report in English (1,12 MB )
Download the report in Greek (1,40 MB )
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