The Republic of Cyprus spends more than 7% of GDP on education, the third-highest percentage in the EU; the country is ranked fourth for higher education and training out of 144 countries (World Economic Forum) and boasts the highest per capita percentage of college and university graduates in Europe.
Education in Cyprus has seen immense development during the 2016/2017 period, with more than 80% growth on student numbers, thus exciting a total of 44,000 students, both local and international. Half of those students were in postgraduate programmes while most of them were female. There is no doubt that education is turning into a key economic sector for Cyprus, if one considers the fact that for 2016 it contributed between €739m and €979m to the local economy. The investment that the Republic of Cyprus has made in education starts to yield positive results, with 9,500 new jobs in higher education and its supporting industries.
Following the accession of Cyprus to the EU back in 2004, the country is becoming noticed as a regional educational hub, attracting students from Asia, Europe and the Middle East.
Cyprus also has a growing academic reputation, with its institutions rising to international rankings. The University of Cyprus itself is ranked amongst the top 500 universities in the world, while the faculty team includes a Nobel laureate, Mr Christophoros Pissarides, prize winner for Economics in 2010.
Whether private or public, all of Cyprus’ universities design programmes to meet current business trends and future employment needs. Many of these focus on the island’s status as one of the world’s leading shipping centres and as a growing energy centre in the eastern Mediterranean.
UCY’s new Larnaca-based Faculty of Marine Sciences and Technology began its first classes in 2018, all in English, and according to Lloyd’s Register is set to provide the local and global maritime industry with high-quality human capital and research capabilities.