Cyprus’ strategic location makes it invaluable as a trade and logistics hub. The upgrading of all its key infrastructural facilities such as ports, airports, roads and telecommunications has given the island the impetus it needs to take the sector a step further.
Two international airports, a modern road network and port facilities have been long established in Cyprus. It is known as a commercial, financial and business centre in the region.
Modern motorways are linking all the major towns and cities in Cyprus. In 2010, with the financial backing of the European Union Development Bank, the public transport was expanded and the new improved bus network was implemented.
Cyprus’ two international airports at Larnaca and Paphos have also been completely upgraded, increasing their combined capacity to around 10 million passengers per year. Cyprus is served by over 100 international airlines, connecting the country directly to most major business centres and international transit hubs.
The ports of Cyprus are operated and maintained by the Cyprus Ports Authority. Major harbours of the island are Limassol harbour, and Larnaca harbour, which service cargo, passenger, and cruise ships. Smaller vessels and private yachts can dock at Marinas in Cyprus. Cyprus has plans for 5 new marinas, and construction has already commenced on.
Cyprus’ excellent telecommunications infrastructure has played a vital role in transforming the island into an internationally recognised commercial centre. The island has a fully digital network with reliable high-speed international connectivity via eight fibre optic submarine cables, including the world’s longest optical submarine telecommunications cable, SEA-MEWE-3, which links directly with South East Asia, the Middle East and the rest of Western Europe. Cyprus’ network boasts 100% broadband coverage, with DSL network capacities of at least 2Mbps, while telecommunications costs are among the cheapest in Europe.
Increasing numbers of technology companies are choosing to locate their operations in Cyprus, attracted by the island’s excellent telecommunications and high quality services, its skilled workforce and favourable tax and business environment. The Cypriot government also offers financial incentives for innovative small and medium-sized enterprises setting up on the island. In addition, the government encourages foreign direct investment into Information and Communications Technology (ICT) projects.
The costs for telephone calls are amount the lowest in Europe. Depending on the provider and the subscription chosen, telephone calls to Russia start at €0,045/min., to Ukraine at €0,117/min., to China at €0,054, to Spain at €0,050/min., to Germany at €0,0449 and to the UK at €0,047/min.
Local calls within Cyprus start from €0,014/min., depending on the provider and the nature of call.
|Subscribers by sector (thousand):
|Fixed broadband subscribers
|Mobile phone subscribers
|Penetration by sector: