Hire your remote team in Cyprus

Cyprus is on the list of the world's most advanced economies and has a high-income economy, according to the World Bank. The service sector is the most important one here. It makes up 80% of the country's GDP. After a small recession in 2009, the economy is now growing at a rate of 3%. Even though there were a lot of rules during the pandemic in 2020, Cyprus' employment rate did not go down. In just two years, the unemployment rate has dropped from 8.37% to 7.23%, which is a big change.

The cost of renting in Cyprus varies according to location and lifestyle. Some neighborhoods are more expensive to live in than others. A one-bedroom apartment may cost between $537.33 and $656.74 per month, depending on the area desired.

When recruiting an employee, the most important factor is the hiring costs. Many factors must be considered before hiring an employee, including:

- Cost of onboarding (of an employee)

- Training of the employee

- Opportunity costs and the job requirements

- Interviews and hiring processes

- Time invested from interview till onboarding

Cyprus is a free economy with an open market that offers a variety of services but is primarily dominated by the service sector. As a result, skilled individuals and professionals skilled and qualified in a variety of hard and soft skills are in high demand. Many opportunities exist for trained professionals, technicians, engineers, managers, professors, graphic designers, and experts, and all are welcome here.

The most in-demand job skills in Cyprus are the following:

- Banking & Financial Services

- Tourism

- Business

- Real Estate and Development.

- Energy

- Shipping & Maritime Industry

Cyprus's employment rate has risen significantly in recent years and is expected to rise even further in the coming years. Furthermore, this country is a beautiful place with many tourists each year and international companies eager to invest in it.

Limassol is the largest urban area in Cyprus and the third most important upcoming tourist destination. This city's annual average salary is estimated to be around US $45,839. Technicians, managers, surgeons, officers, and property managers are the top occupations in this country.

Nicosia: The second largest city in Cyprus and an internationally occupied territory. The annual average salary in this city is estimated to be around $46,305 USD. Surgeons, lawyers, college professors, bank managers, CEOs, and CFOs are among the top jobs in this city. Larnaca is the country's third-largest city and is well known for its palm tree seafront, also known as Foinikoudes, Church of Saint Lazarus. The annual average wage in this city is estimated to be around US $45,579. In this city, the most common occupations are nurses, engineers, dentists, and technicians.

Cyprus has an open, free-market economy based on services. The country's geographical location is regarded as a link between the east and the west, as evidenced by the presence of a sizable English-speaking community, world-class infrastructure, robust telecommunication services, and a variety of other amenities. Cyprus has built a successful independent economy that is growing rapidly and promises long-term and better job opportunities.

The trading sector generates approximately $1.53 billion in revenue; this trading includes goods such as pharmaceuticals, fruits, clothing, and a variety of other items. Furthermore, Cyprus imports a wide range of goods, including transportation equipment, machinery, lubricants, and many others. Aside from that, Greece has been Cyprus's primary import and export partner for an unusually long time.

In Cyprus, the service sector accounts for 80% of GDP, with tourism playing a significant role. This island is also ranked as the 40th most popular country in the world, with over 2 million tourists visiting each year, ranking the tourism industry as the 29th best and preferred tourist destination in the world.