Facts about Cyprus
Cyprus, officially the Republic of Cyprus is a Eurasian island country in the eastern part of the Mediterranean Sea, south of Turkey. It is the third largest island in the Mediterranean and one of the most popular tourist destinations in the Mediterranean, attracting over 2.4 million tourists per year.
The third largest island in the Mediterranean Sea (after Sicily and Sardinia), Cyprus is geographically situated in the eastern Mediterranean and just south of the Anatolian peninsula of the Asian mainland. Neighboring countries are: Turkey to the north, Syria and Lebanon to the east, Israel to the southeast, Egypt to the south, and Greece to the west-north-west.
The Cypriot economy is prosperous and has diversified in recent years. Cyprus has been sought as a basis for several offshore businesses, due to its highly developed infrastructure. Economic policy of the Cyprus government has focused on meeting the criteria for admission to the European Union.
The economy of the Turkish Cypriot North is dominated by the services sector including the public sector, trade, tourism and education, with smaller agriculture and light manufacturing sectors. The economy operates on a free-market basis, although it continues to be handicapped by the political isolation of Turkish Cypriots, the lack of private and governmental investment, high freight costs, and shortages of skilled labor. Despite these constraints, the Turkish Cypriot economy turned in an impressive performance in 2003 and 2004.
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