Competitiveness Reports for Cyprus
Cyprus Competitiveness Report for 2019:
The development of the first Competitiveness Report for Cyprus was assigned by the Structural Reforms Support Service (SRSS) of the European Commission to the Dutch consultancy company ECORYS, following the relevant support request towards the SRSS from the Cypriot Authorities, namely the Directorate General for European Programmes, Coordination and Development (DG EPCD).
The preparation of this first report was completed in the first half of 2019. The report provides an overview of the structure and the performance of the Cyprus economy, highlighting its comparative advantages, weaknesses as well as the risks faced by the economy, including recommendations on addressing these risks and weaknesses. The report assess both the overall performance of the Cypriot economy as well as its performance in selected areas, on the basis of international benchmarks (e.g. WEF Global Competitiveness Report, WB Doing Business Rankings), comparing them with the performance of other (selected) economies, the EU average and the corresponding performance of the country from previous years. For the purposes of monitoring the preparation of the first Competitiveness Report, a Steering Committee has been set up with the participation of representatives from the DG EPCD, the Ministry of Finance, the Statistical Service of Cyprus, the Ministry of Labor, Welfare and Social Insurance, the University of Cyprus and the SRSS.
Following its set up, as of June 2018, the Cyprus Economy and Competitiveness Council undertook the responsibility of preparing the annual Competitiveness Reports for Cyprus, having set under its auspices the preparation and completion of this first Competitiveness Report for 2019, the final text of which is available here.
Cyprus Competitiveness Report for 2021:
The 2nd Competitiveness Report was prepared by the University of Cyprus on behalf of the Cyprus Economy and Competitiveness Council. The Report builds on and extends the findings of the first report that was published two years ago and provides an assessment of Cyprus’s competitiveness in the context of a broad definition of the term encompassing also social and environmental elements. It records the comparative advantages, weaknesses and challenges faced by the economy and provides policy recommendations to address the remaining challenges.
|The Competitiveness Report serves as the key analysis tool for the Council's work and includes the following:|
|..benchmarking the competitiveness and productivity of the Cyprus economy internationally and against selected countries, |
|..conclusions on problematic areas and key factors affecting them, and |
|..identification of priority sectors where policy measures are needed to address the challenges identified.|
The Report also includes a separate chapter on the economic and social impact of the pandemic and emphasizes the need for Cyprus to diversify and make its economy more resilient.
The final text of the 2nd Competitiveness Report is available here.