Cyprus, with a population of approximately 1.2 million (2023), is an island nation in the Eastern Mediterranean known for its rich history and strategic location. The economy is characterized by a diverse range of sectors, including services, tourism, and agriculture. The service sector, particularly tourism and financial services, plays a crucial role in driving economic growth, with millions of visitors attracted to its historic sites and beautiful beaches each year. Agriculture, though less dominant, contributes significantly with products like citrus fruits, potatoes, and wine. With a GDP estimated at around $30 billion and a per capita income of approximately $25,000 (2023), Cyprus enjoys a relatively high standard of living. Its membership in the European Union enhances its economic stability and provides access to broader markets.
The Cypriot government and business community can collaborate with the World Business Council to promote sustainable tourism practices, innovate in financial services, and strengthen international trade relations to foster comprehensive economic growth.
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