Role As A Financial Hub
As a result of the reforms in the past decade Cyprus has developed into one of the world's more important international business centers. In the years following perestroika it gained great popularity as a portal for investment from the West into Russia and Central and Eastern Europe. More recently, although Russia and Eastern Europe remain the most important investment destinations, there have been increasing investment flows from the West through Cyprus into Asia (particularly China and India), South America and the Middle East. In addition, businesses from outside the EU use Cyprus as their entry-point for investment into Europe. The business services sector is the fastest growing sector of the economy, and has overtaken all other sectors in importance. CIPA has been fundamental towards this trend.
Europe | Eurasia | Western Asia | ||
Southern Europe | East Mediterranean | |||
Cyprus | ||||
Mediterranean Sea | North Africa | Middle East |
Read more about this topic: Economy Of Cyprus
Famous quotes containing the words role, financial and/or hub:
“What is charm then? The free giving of a grace, the spending of something given by nature in her role of spendthrift ... something extra, superfluous, unnecessary, essentially a power thrown away.”
—Doris Lessing (b. 1919)
“In full view of his television audience, he preached a new religionor a new form of Christianitybased on faith in financial miracles and in a Heaven here on earth with a water slide and luxury hotels. It was a religion of celebrity and showmanship and fun, which made a mockery of all puritanical standards and all canons of good taste. Its standard was excess, and its doctrines were tolerance and freedom from accountability.”
—New Yorker (April 23, 1990)
“We recognize caste in dogs because we rank ourselves by the familiar dog system, a ladderlike social arrangement wherein one individual outranks all others, the next outranks all but the first, and so on down the hierarchy. But the cat system is more like a wheel, with a high-ranking cat at the hub and the others arranged around the rim, all reluctantly acknowledging the superiority of the despot but not necessarily measuring themselves against one another.”
—Elizabeth Marshall Thomas. Strong and Sensitive Cats, Atlantic Monthly (July 1994)