The turnover of most economic sectors in Cyprus recorded an increase in 2024, reflecting the country’s broader economic growth, which has been driven by key industries such as tourism and technology. According to the Cyprus Statistical Service, the Index of Turnover in Services for the fourth quarter of 2024 showed a rise in almost all […]
Cyprus experienced strong growth in its services sector in 2024, driven by key industries such as tourism and technology. The Index of Turnover in Services showed increases across most sectors, with notable rises including administrative activities (8.9%), accommodation and food services (8.2%), and information services (51.8% annually). The information and communication sector surged by 39.5% in the fourth quarter, highlighting the growth of Cyprus' digital economy. Travel services also rebounded, increasing by 20.3% in the fourth quarter and 10% annually. Other sectors, such as security and investigation services, saw a 10.9% annual rise, while legal and accounting services declined by 3.1% for the year.
