Small-Medium Enterprises (SMEs)

While Cypriot SMEs have been hit by reduced liquidity and the resulting drop in spending power in recent years, the recession receded somewhat in 2014. The general outlook for SMEs is mixed. SME value added is projected to increase in 2016 by 12 % respectively, while employment is expected to grow by 16 % compared with 2014.
There is much room for improvement, especially in crucial areas such as access to finance, entrepreneurship and ‘responsive administration’. Developing the entrepreneurial …

Research & Innovation

Innovation refers to the creation of new or significantly improved products, processes, marketing methods and organization structures that add value to markets, governments and the society. Investments in Research and Innovation (R&I) are driving long-term growth, and it is widely accepted that countries that invest in R&I are recovering faster from the current economic crisis.
Across Europe Research and Innovation is identified as one of the key drivers that will enable the European economy to get back on track. Europe is …

Regional and Local Authorities

Regional Administration plays an important role in improving the living standards of citizens, which is reflected in the wide range of its jurisdiction and responsibilities and includes the development of infrastructure and provision of services such as water, sanitation, transport infrastructure, public spaces, healthcare services, educational services, etc. Additionally, it has a key role on issues related to spatial planning, environmental protection, employment, disaster prevention. Good local governance is crucial to democratic participation, political dialogue, social cohesion and achieving economic …

Telecoms, Information, Media & Electronics (TIME)

Technology is probably the most influential factor contributing on a global scale to the economic and social context of our present and future. As such, technology driven sectors such as Telecoms, Information Technology, Media and Electronics are at the forefront of importance facing at the same time very significant challenges.
The migration from the physical to the digital world has effected major disruption across a large number of economic and social activities and has fostered the emergence of new business models …


It is well established that education is an important prerequisite for sustainable development and effective participation of citizens in socio-economic progress. This is highlighted by the fact that specific educational goals concerning reduction of early school leaving rates, below 10% and achieving at least 40% of 30-34–year-olds completing third level education are included in the “Europe 2020” agenda.
The long-term strategic objectives of EU education and training policies are:

Making lifelong learning and mobility a reality;
Improving the quality and efficiency of education …


Due to their direct relation to development, as expressed through growth and employment rates, transport systems and civil infrastructure exhibit dynamic trends and, therefore, complex challenges. Presently, the limited resources available in most areas require focused management to serve increasing demand, whereas the pronounced lack of public funding leads to an exploitation trend of PPP/Concession schemes for major civil infrastructure components. At the same time, persistent urbanisation in most of the developing world leads to pressing needs of efficient urban …

Tourism & Leisure

Significant part of an economy is driven by the tourism and leisure service sectors, each with its own challenges and characteristics.
Tourism, a national industry for countries like Cyprus, as well as others that compete in the global tourism market, is a multi sectoral, stakeholder intensive, capital demanding and people driven industry.
As such, the challenges faced by the tourism sector typically involve:

increase of demand for existing tourist services
development of new products and services
improvement of the operational and financial performance of sector …