Strengthened Ties Between Cyprus and Greece Drive Economic Growth and Investment Opportunities
Marilena Sevastidou, Head of Corporate Banking at the National Bank of Greece (Cyprus), recently emphasized the positive momentum in Cyprus-Greece relations at an Athens conference, highlighting the growing business opportunities. Sevastidou noted that this bilateral cooperation fosters a mutually beneficial growth environment, driven by sectors like finance and tourism.
According to European Central Bank projections, Cyprus is set to outpace the European average in economic growth for 2025-2026, providing a solid foundation for investment. This growth is underpinned by a thriving digital economy, with a 15% annual increase in investments in fintech, AI, and cybersecurity. The government's push for renewable energy, aiming to meet 35% of energy needs from renewables by 2030, further adds to Cyprus' investment appeal.
Sevastidou also pointed to Cyprus' attractive business environment, with tax incentives and a multilingual workforce offering a competitive edge. Additionally, the National Bank of Greece (Cyprus) is expanding its international banking services, aiming to support both local and global corporate clients.
Meanwhile, Greek banks are undergoing a recovery, with S&P Global Ratings upgrading key institutions, reflecting stronger capital quality and a more robust institutional framework. The recovery, supported by initiatives like the “Hercules” programme, has reduced non-performing loans (NPEs) from 56.3% in 2016 to 4.6% by September 2024, boosting investor confidence.
For international investors, Cyprus and Greece represent an integrated, high-growth region with expanding opportunities in banking, technology, and renewable energy. The improving financial landscape and favorable business conditions make this an ideal time to explore investments in these markets.
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