Paphos broadens economy beyond tourism, says KPMG

KPMG Cyprus published an analysis stating that Paphos, a district in Cyprus, is diversifying its economy beyond tourism. The region now includes growing sectors such as real estate, education, technology, and professional services. This transformation positions Paphos as a dynamic business and investment center. The shift reflects broader economic trends in Cyprus, where regional hubs are attracting foreign investment and talent. KPMG's report highlights the district's evolution from a tourism-dependent area to a more balanced economic base.

Global Impact

Economically, Paphos' broadening economy may attract foreign direct investment (FDI) into Cyprus, particularly from EU and Middle Eastern firms seeking a business-friendly hub. Politically, it strengthens Cyprus' case as a stable Mediterranean investment destination, though the island's division remains a long-term risk.