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Results of the Services and Transport Survey 2022 for Cyprus Announced

According to the results of the Cyprus Services and Transport Survey, the tertiary sector of the economy registered in 2022 a positive growth rate compared to 2021.

In particular, production value during 2022 showed an increase of 29,3 percent in transportation and storage (sector H), 44,8 percent in accommodation and food service activities (sector I), 37,6 percent in information and communication (sector J), 18,2 percent in real estate activities (sector L), 13 percent in professional, scientific and technical activities (sector M), 23,2 percent in administrative and support service activities (sector N), 8,7 percent in education (section P), 7,9 percent in human health and social work activities (section Q), 40,2 percent in arts, entertainment and recreation (section R) and 10,5 percent in other service activities (section S).

Regarding the value added at current prices, increases were recorded in all sectors. Νotable increases were recorded in accommodation and food service activities by 48 percent reaching EUR1.397,1 million and in information and communication by 38,4 percent to EUR2.764,3 million. Significant increases were also observed in arts, entertainment and recreation by 44,3 percent to EUR311,1 million, administrative and support service activities by 21,4 percent to EUR617,3 million, in transportation and storage by 17 percent to EUR949,6 million and in education by 15,8 percent to EUR428,7 million.

In 2022, employment increased in all economic sectors. The highest employment is registered in accommodation and food service activities with 52.247 persons, followed by professional, scientific, and technical activities with 38.289 persons, information and communication with 21.024 persons, transportation and storage with 20.686 persons and administrative and support service activities with 17.942 persons.