Increased Dependence of the Cypriot Economy on Foreign Labor
November 16, 2025
The Cypriot economy increasingly relies on foreign labor. The Deputy Minister of Migration, Nikolaos Ioannidis, states that the country has become a center of high specialization in finance and technology. Strengthening legal migration channels is essential for effectively addressing irregular migration. Currently, there are about 200,000 third-country nationals legally residing in Cyprus. The government plans further improvements in the legal migration process and the digitization of its services.