Cyprus positioned to become a regional driver of online business

The worldwide shift towards e-commerce and online services amid lockdowns and other Covid restrictions is likely to continue as economies open up in the post-pandemic era, and Cyprus is well positioned to become a regional driver of online business.

The island’s growing digital economy, investment-friendly business environment and proximity to European, African and Middle Eastern markets are creating optimal conditions for foreign and domestic online businesses to flourish. Local internet penetration stands at 89 per cent, the pandemic acting as an accelerator for digital transformation in Cyprus — data traffic increasing by 95 per cent.