Digital Integration Surges Among Cypriot Businesses

An impressive 79.9% of businesses in Cyprus with 10 or more employees have incorporated social media networks into their operational strategies, according to a report by the state statistical service, reflecting a substantial increase in digital engagement compared to previous years. The study indicates that 79.7% of these businesses utilize platforms like Facebook and LinkedIn, while 38.5% engage in multimedia content-sharing platforms such as YouTube and Instagram. Additionally, 22.7% leverage blogs or microblogs like X (formerly known as Twitter).

Notably, 8.5% of businesses have embraced mobile applications to cater to their clientele, offering services such as customer support or loyalty programs. The report also underscores the growing prevalence of internet connectivity among Cypriot businesses, with a remarkable 96.4% of enterprises connected to the internet. Of these, 72.1% boast high-speed internet connections exceeding 100 Mbit/s, marking a significant increase from the 17.1% recorded in 2019.

The majority of businesses (41.6%) operate within the bandwidth range of 100 to 500 Mbit/s, followed by 19.3% within the range of at least 30 Mbit/s but less than 100 Mbit/s. Moreover, 16.1% and 14.5% of enterprises possess data transfer speeds of at least 1 Gbit/s and at least 500 Mbit/s, respectively.

In the realm of e-commerce, the report indicates a shift in the approach of Cypriot businesses toward digitalization, with 23.5% of businesses receiving orders via computer networks. Additionally, 22.4% received orders through websites or applications, 18.2% via their proprietary platforms, and 11.9% through electronic market websites or applications used by various businesses.

These statistics underscore a notable evolution in the business landscape in Cyprus, reflecting a widespread adoption of digitalization and e-commerce strategies by enterprises across the nation.

By fLEXI tEAM