Cyprus-Forum.com

[cyfo]

What you consider to be the future jobs industry or business in Cyprus

[Sotos]

I think it should be education and technology. But those that govern are too busy governing and not concerned with unimportant things like the future

[cypezokyli]

very clever quote sotos.
you are so right

[cyfo]

I think it should be education and technology. But those that govern are too busy governing and not concerned with unimportant things like the future

Too busy dealling how to share council sits

[Great White]

Cyprus will have a hard time and it will take many years before it develops into some specializations like India with IT or Switzerland with banking.

The whole structure of the country is to be quickly and tremendously improved. There is a lack of professionalism / education in all lines of businesses. I am in the insurance world and I can count on one hand the guys at Management level who really know something about the business.

It is my feeling that Cyprus did not take full advantage of the Golden Years when it was an offshore paradise to specialize in, for instance, banking activities and become an important centre in the Middle East.

I think Cyprus best chances would be in services as it is too small of a market to attract strong industrial investments. Furthermore, the manpower is not very cheap and being an island considerably increases the costs of shipping.

What is missing is a strong political will to make the island financially interesting again for investors. Unfortunately being in Europe imposes certain financial obligations that will not make the island any cheaper. And this is without counting with the introduction of the EURO which has dramatically increased the prices in all European countries (ask the Germans and Frenchs !).

I think that the development of Cyprus will not be possible without a change of mentality and increased professionalism. It might sound unfair but Cyprus "must pay its dues" and prove that it has all the ingredients to attract people to work here... qualified manpower, low taxes, incentives to invest, good flight connections, attractive cost of living... there's still a long way to go.

But I agree that with the type of politicians that you have, the battle is not won ! Unfortunately.

[cyfo]

invest, good flight connections, attractive cost of living... there's still a long way to go.

I sure agree with your statement but what about all this building going on?It is an invesment

[Niki]

I think Cyprus would be good place to do crash testing for car manufacturers. The driving skills are perfect!

[dinos]

Cyprus will have a hard time and it will take many years before it develops into some specializations like India with IT or Switzerland with banking.

The whole structure of the country is to be quickly and tremendously improved. There is a lack of professionalism / education in all lines of businesses. I am in the insurance world and I can count on one hand the guys at Management level who really know something about the business.

It is my feeling that Cyprus did not take full advantage of the Golden Years when it was an offshore paradise to specialize in, for instance, banking activities and become an important centre in the Middle East.

I think Cyprus best chances would be in services as it is too small of a market to attract strong industrial investments. Furthermore, the manpower is not very cheap and being an island considerably increases the costs of shipping.

What is missing is a strong political will to make the island financially interesting again for investors. Unfortunately being in Europe imposes certain financial obligations that will not make the island any cheaper. And this is without counting with the introduction of the EURO which has dramatically increased the prices in all European countries (ask the Germans and Frenchs !).

I think that the development of Cyprus will not be possible without a change of mentality and increased professionalism. It might sound unfair but Cyprus "must pay its dues" and prove that it has all the ingredients to attract people to work here... qualified manpower, low taxes, incentives to invest, good flight connections, attractive cost of living... there's still a long way to go.

But I agree that with the type of politicians that you have, the battle is not won ! Unfortunately.

You make some compelling points, GW. I had worked in the banking software industry in a previous life. The s/ware is used for management of commodity and financial trading and risk mgmt operations (banks, oil/gas companies, insurance companies' commodity operations, etc) and is deployed in at least 8 central banks. We had met a representative from the Cyprus central bank at a trade show. His lack of knowledge about his industry was alarming. And when we showed him why he was wrong about something, he got very belligerent and told us we didn't know how central banking works. Very sad.

Accession into the EU would give Cyprus the opportunity to clean up some inefficient business practices and bring some fresh blood to the table. It would also force Cypriots to compete with their European counterparts. There is still a lot for Cyprus to take advantage of. The location of the island makes it a prime locale to develop a vibrant banking industry, among other opportunities. And yes, the cost of living may be a bit high, but there's a lot of money to be made out there to offset it.

My opinion, anyway...

[Great White]

invest, good flight connections, attractive cost of living... there's still a long way to go.

I sure agree with your statement but what about all this building going on?It is an invesment

It is.... but if they remain empty.... what's the point ?

[JUDGE_JIM]

If and when this oil deal with Egypt kicks off, there will e a huge boom in the oil industry (until it gets taken away from us).