The UK Telegraph claims that according to some estimates, reunification of unification could boost the island’s GDP by €5bn within five years (or €1,700 per capita) and €10bn within 20. It qualifies that this is a considerable fillip given that GDP in the south was only €21.1bn last year.
As a UK national resident in Cyprus, I am encouraged that mainstream newspapers are looking to Cyprus’ upside potential.
It’s interesting to speculate on where the benefits will fall. Here’s my take on what to expect:
- A massive property boom
- Accelerated development of Cyprus offshore gas and oil, with the related secondary industries.
- Cyprus global investment hub and business services to benefit.
- Higher education achievement, with related increased skills to attract more high technology industries, and of course
- Cyprus’ location in the Mediterranean with three hundred days of sun will guarantee a boom in tourism and related consumer service industries, like restaurants, hotels and shops.