Cyprus businesses embrace digital platforms

Approximately 8 out of 10 businesses in Cyprus (79.9 per cent) with 10 or more employees have embraced social media networks as a part of their operational strategy, according to a report by the state statistical service, which looked at digital integration in Cyprus

This marks a significant rise in digital engagement compared to previous years.

The statistics highlight that 79.7 per cent of these businesses utilise social networks like Facebook and LinkedIn, while 38.5 per cent engage in multimedia content-sharing platforms such as YouTube and Instagram.

In addition, 22.7 per cent leverage blogs or microblogs like X (formerly known as Twitter).

Furthermore, a notable 8.5 per cent of businesses offer mobile applications catering to their clientele, providing services like customer support or loyalty programmes.

The report also underlined the increased usage of internet connectivity among Cypriot businesses. A staggering 96.4 per cent of enterprises are connected to the internet, with 72.1 per cent experiencing high-speed internet connections surpassing 100 Mbit/s. This represents a substantial increase from the 17.1 per cent recorded in 2019.

Most businesses (41.6 per cent) have been observed to operate within the bandwidth range of 100 to 500 Mbit/s, followed by 19.3 per cent within the range of at least 30 Mbit/s but less than 100 Mbit/s.

Moreover, 16.1 per cent and 14.5 per cent of enterprises possess data transfer speeds of at least 1 Gbit/s and at least 500 Mbit/s, respectively.

Additionally, in the realm of e-commerce, the report indicates that 23.5 per cent of businesses received orders via computer networks, while 22.4 per cent received orders through websites or applications.

What is more, 18.2 per cent received orders through their proprietary platforms, while 11.9 per cent via electronic market websites or applications used by various businesses.

The statistics underline a paradigm shift in the approach of Cypriot businesses towards digitalisation and e-commerce, signifying an evolving landscape of commerce and communication methods adopted by enterprises across the nation.