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Cyprus - Economy

 
 
 

While Cyprus traditionally derived its income from agriculture and mining, in recent years the export of fresh fruits and vegetables has become increasingly important - even the Cyprus potato has become well known throughout Europe!

Relative to its size and population, Cyprus also holds the highest production rate of grapes in the world and vineyards cover a large percentage of the semi-mountainous and mountainous regions of the island.

Foreign investment in the island has increased rapidly in recent years, thanks largely to the formation of numerous offshore companies, all taking advantage of attractive tax laws. Thanks to this major input from abroad, Cyprus is fast
becoming a financial and business centre to be reckoned with. Cyprus also
possesses a highly educated and skilled workforce and the government is currently encouraging the development of high-technology industries.

The most significant industry on the island, however, is tourism. Cyprus has been blessed with all the resources necessary to offer the perfect destination - a fantastic climate with plenty of sunshine, blue seas, sandy beaches and the incomparable hospitality of the local people.

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