Dialogos

Growth Rates That Don't Reach Everyone: Serious Inequalities in Cyprus

Published January 1, 2026, 08:01
Growth Rates That Don't Reach Everyone: Serious Inequalities in Cyprus

Despite the growth rates recorded in Cyprus, the economic benefits are not evenly distributed across all income levels. The president of the Paphos Chamber of Commerce and Industry, Giorgos Maïs, points out that structural issues within the state prevent the immediate response of lower income groups to economic recovery. In Paphos, tourism and services have performed exceptionally well, with unprecedented increases in arrivals and revenue. However, housing remains inaccessible to many, and the state is called upon to find faster and more effective solutions for affordable housing. Banks also play an important role, as they should offer more flexible housing plans with better terms, given the increase in interest rates. At the same time, significant investments are being made in sectors such as technology, energy and transport. Mr. Maïs expresses concern about the international uncertainty caused by geopolitical developments in Ukraine, the Middle East and the wider region, which negatively affect investment and businesses. Inequality in the distribution of economic benefits is a serious problem that needs to be addressed urgently. In summary, growth in Cyprus does not automatically translate into an improvement in life for everyone. The need for structural changes and measures to ensure a fairer distribution of economic benefits is imperative.