Cyprus small business ventures invigorate the economy

✍ Scribed by Ioannis Violaris; Danae Harmandas; Yiannos Loizides

• Book ID: 104601047
• Publisher: John Wiley and Sons
• Year: 2011
• Tongue: English
• Weight: 156 KB
• Volume: 54
• Category: Article
• ISSN: 1096-4762
• DOI: 10.1002/tie.21442

✦ Synopsis

Abstract

Cyprus has managed to advance itself and be recognized as one of the world's 32 advanced economies. By supporting local and foreign socioeconomic interests over the years, the small island‐nation today boasts rapid growth, full employment conditions, external and internal stability, strong telecommunications infrastructure, and a society well prepared to embrace the emerging knowledge economy. Recognizing its susceptibility to external economic trends as well as its attraction for various migrant groups, however, the people of Cyprus have embraced the benefits of putting their social capital to financial gain and the improvement of quality of life by supporting local business and welcoming foreign investment. © 2012 Wiley Periodicals, Inc.