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Country Profile: Cyprus
Fact FileCapitalNicosiaOther CitiesFamagusta, Iskele, GazimagusaOfficial languagesGreek and TurkishAreaTotal 9,251 km2Population(2009est) estimate 801,000CurrencyEuro |
Overview
Cyprus, officially the Republic of Cyprus is an island country situated in the eastern Mediterranean, east of Greece, west of Lebanon, Syria, and Israel, south of Turkey and north of Egypt. Cyprus is one of the most popular tourist attractions in Europe and is also the third largest island in the Meditteranean regon.
Business Development
Because of the highly developed infrastructure and booming economy of Cyprus, it has recently become a target for foreign investment, as well as offshore corporate subsidiaries. Cyprus has recently adopted the Euro currency and is seeking to gain admission into the European Union in the near future.
Energy Resources
Recently, the waters between Cyprus and Egypt have been linked to large crude oil reserves, this would tremendously boost the already growing economy of Cyprus and Egypt as well. There have also been many other countries that are seeking foreign investment for the potential mega oil project. Despite these discoveries, the government of Cyprus has undergone research and studies to further develop renewable energy resources for their country, specifically wind, solar and hydroenergy.
Educational Developments
In Cyprus, there is a high level of education offered at all levels, both public and private as well. The high quality of instruction can be attributed to a large extent to the above-average competence of the teachers but also to the fact that nearly 7% of the GDP is spent on education which makes Cyprus one of the top three spenders of education in Europe. The state schools and public schools are nearly identical in rankings and quality, which can be attributed to the high value and emphasis that the government places on education.
Foods and Cuisine
Cyprus has a vast wealth of fine foods and cuisine, their most popular being Halloumi, a popular cheese made from a mixture of goat's and sheep's milk, originates from Cyprus, and is commonly served sliced, either fresh or grilled, as an appetiser. Seafood and fish dishes of Cyprus include squid, octopus, red mullet, and sea bass. Cucumber and tomato are used widely in salads. Common vegetable preparations include potatoes in olive oil and parsley, pickled cauliflower and beets, asparagus and kolokassi. Other traditional delicacies of the island are meat marinated in dried coriander, seeds and wine, and eventually dried and smoked, such as lountza (smoked pork loin), charcoal-grilled lamb, souvlaki (pork and chicken cooked over charcoal), and sheftalia (minced meat wrapped in mesentery).
Future Outlook
In the future, Cypus looks to further develop its booming economy, not only in its already successful sectors, but it new areas as well. The nation looks to expand its crude oil industry, with the help of Egypt and other foreign investors. Cypus will also continue to develop its highly successful tourism industry, which ranks among the highest in Europe. Despite having a newly discovered vast wealth of oil, Cyprus has taken the initiative to research new forms of renewable energy, such as wind solar and hydroelectric, in an attempt to become on the largest producers in Europe.
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