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Doing business & staying in touch

Cypriots prefer face-to-face meetings rather than business via telephone or in writing, which are regarded as too impersonal. Business dress is similar to most European conventions.

Office hours: 

Typical office hours are 0800-1300 and 1500-1800 (winter), and 0800-1300 and 1600-1900 (summer).

Economy: 

Figures released in May 2010 show that the Cypriot economy experienced negative growth of 1.7% in 2009 (3.8% in 2008). Inflation stands at 0.2% (4.7% in 2008). The country's market economy is dominated by the service sector, which accounts for around four fifths of the economy. While tourism remains a mainstay of the Cypriot economy, the industry has been affected by the recent global economic downturn, as tourist arrivals were down by 10.9% in 2009.

Northern Cyprus depends on tourism and the service industry to form the backbone of its economy, and because of the embargo with Southern Cyprus it remains heavily reliant on the mainland Turkish economy for support. However, this may change; the Turkish foreign minister has recently said Turkey will open its ports to Cypriot ships if the gesture is returned.
Many quality hotels have first class conference facilities; Nicosia is a popular destination for budget-priced conferences and has a number of modern facilities. Most 4- and 5-star hotels have at least basic conference and incentive facilities in what is very much a growing market. Advice can be obtained from the Cyprus Tourism Organisation (see Contact Addresses).

GDP: 

US$22.97 billion (2009).

Main exports: 

Pharmaceuticals, potatoes, citrus fruits, cement and clothing.

Main imports: 

Consumer goods, raw materials, machinery, transport equipment and petroleum.

Main trading partners: 

Greece, UK, Germany, Italy and Israel.

Staying in touch in Cyprus

Telephone: 

Telecard or coin-operated public telephones are installed at various central locations in towns and villages. Call Direct (cheaper than ordinary collect calls) is available to most EU countries, as well as Australia, USA and Canada.

Mobile phone: 

Roaming agreements exist with most international mobile phone companies. Coverage is good.

Internet: 

Internet cafes are located in main towns and resorts, for instance, Nicosia, Larnaca, Limassol, Pafos and Agia Napa.

Post: 

There are daily airmail services to all developed countries. Service within Europe takes three to four days.

Post office hours: 

(District) Mon-Fri 0730-1330 and 1500-1800 except Wednesday, Sat 0830-1030 during the winter period (1 Sep to 30 Jun); Mon-Fri 0730-1330 and 1600-1900 except Wednesday, Sat 0830-1030 during the summer period (1 Jul to 31 Aug). Other post office opening hours: Mon-Fri 0730-1330, Thurs 1500-1800 at other times.

Media: 

The Cypriot media reflects the island's political divide, with the Turkish-controlled zone in the north operating its own press and broadcasters. State-run services compete with a large number of private TV and radio stations. Relays of Greek and Turkish stations are available across the island. Newspapers on both sides of the divide are frequently critical of the authorities. Newspapers published in English include the Cyprus Financial Mirror, Cyprus Telegraph, Cyprus Today (Turkish Cypriot) and Cyprus Weekly; Mikres Aggelis is in Greek, while Yeni Kibris is in Turkish. Most English papers are available. The public Cyprus Broadcasting Corporation (CyBC) operates TV channels RIK 1 and RIK 2; in northern Cyprus, Bayrak Radio-TV operates channels BRT 1 and BRT 2; Radio 1 (in Greek), Radio 2 (in English, Turkish and Armenian), Radio 3 (in Greek) and Love Radio are operated by CyBC; commercial stations include Radio Proto and Astra 92.8; Bayrak Radio-TV operates Bayrak Radio 1 (in Turkish), Bayrak International (in English), Bayrak FM and Bayrak Klasik.

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