President Christodoulides outlines strategy to turn Cyprus into an innovation hub

On October 26, 2026, President Nikos Christodoulides addressed the 19th Cyprus Innovation Awards of the Employers and Industrialists Federation (OEV) and the Research and Innovation Foundation (IDEK). During the event, he outlined the government's strategic vision to establish Cyprus as a regional hub for technology and innovation, focusing on long-term economic development and competitiveness.

Highlighting recent economic performance, the President noted that Cyprus’s growth remains above the European average. A key achievement mentioned is the country's return to the 'A' credit rating category for the first time since 2011. Currently, the technological sector contributes approximately 15 percent to the national GDP, and the entrepreneurship ecosystem has seen significant expansion since 2020. Additionally, Cyprus has climbed to 34th place globally in the 2026 StartupBlink index, marking the highest European growth in this ranking for the third consecutive year.

The government plans to leverage this economic stability to increase productivity and create quality jobs for the younger generation. The focus remains on specialized knowledge and high-tech investment to ensure that national growth translates into tangible societal benefits.