Cyprus my island

The Cypriot economy is prosperous and has diversified in recent years. According to the latest International Monetary Fund estimates, its per capita GDP (adjusted for purchasing power) at $28,381 is just above the average of the European Union. Cyprus has been sought as a base for several offshore businesses for its highly developed infrastructure. Tourism, financial services, and shipping are significant parts of the economy. Economic policy of the Cyprus government has focused on meeting the criteria for admission to the European Union. The Cypriot government adopted the euro as the national currency on 1 January 2008.
Cyprus has been part of the Eurozone since 2008.

In recent years significant quantities of offshore natural gas have been discovered in the area known as Aphrodite in Cyprus' exclusive economic zone (EEZ), about 175 km south of Limassol at 33°5′40″N and 32°59′0″E. Cyprus demarcated its maritime border with Egypt in 2003, and with Lebanon in 2007.[87] Cyprus and Israel demarcated their maritime border in 2010, and in August 2011, the US-based firm Noble Energy entered into a production-sharing agreement with the Cypriot government regarding the block's commercial development. Turkey, which does not recognize the border agreements of Cyprus with its neighbors, threatened to mobilize its naval forces in the event that Cyprus would proceed with plans to begin drilling at Block 12. Cyprus' drilling efforts have the support of the US, EU, and UN, and on September 19 2011 drilling in Block 12 began without any incidents being reported.

The economy of the Turkish-occupied areas operates on a free-market basis although it continues to be handicapped by the lack of private and public investment, high freight costs and shortages of skilled labor. Despite these constraints the economy turned in an impressive performance in 2003 and 2004 with growth rates of 9.6% and 11.4%. The average income in the area was $15,984 (S₣16,289) in 2008. Growth has been buoyed by the relative stability of the Turkish new lira and by a boom in the education and construction sectors. The island has witnessed a massive growth in tourism over the years and as such the property rental market in Cyprus has grown alongside. Added to this is the capital growth in property that has been created from the demand of incoming investors and property buyers to the island.

Transport

Available modes of transport are by road, sea, and air. Of the 10,663 km (6,626 mi) of roads in the Republic of Cyprus as of 1998, 6,249 km (3,883 mi) were paved, and 4,414 km (2,743 mi) were unpaved. As of 1996 the Turkish occupied area had a similar ratio of paved to unpaved, with approximately 1,370 km (850 mi) of paved road and 980 km (610 mi) unpaved. Cyprus is one of only four EU nations in which vehicles drive on the left-hand side of the road, a remnant of British colonisation, the others being Ireland, Malta and the United Kingdom.

There are several modern motorways in Cyprus. A series of motorways runs along the coast from Paphos east to Ayia Napa, with two motorways running inland to Nicosia, one from Limassol and one from Larnaca.

A1 Nicosia to Limassol
A2 connects A1 near Pera Chorio with A3 by Larnaca
A3 Larnaca to Agia Napa
A5 connects A1 near Kofinou with A3 by Larnaca
A6 Pafos to Limassol
A9 Nicosia to Astromeritis

Per capita private car ownership is the 5th highest in the world. There are approximately 344,000 privately owned vehicles, and a total of 517,000 registered motor vehicles in the Republic of Cyprus. In 2006 extensive plans were announced to improve and expand bus services and restructure public transport throughout Cyprus, with the financial backing of the European Union Development Bank. In 2010 the new revised and expanded bus network was implemented.

In 1999, Cyprus had six heliports and two international airports: Larnaca International Airport and Paphos International Airport. Nicosia International Airport has been closed since 1974 and although Ercan airport was still in use it was only for flights from Turkey.

The main harbours of the island are Limassol and Larnaca, which service cargo, passenger, and cruise ships.

Communications

Cyta, the state-owned telecommunications company, manages most Telecommunications and Internet connections on the island. However, following the recent liberalisation of the sector, a few private telecommunications companies have emerged including MTN, Cablenet, OTEnet Telecom, Omega Telecom and PrimeTel. In the Turkish-controlled area of Cyprus, three companies are also present. These are Turkcell, Vodafone and Turk Telekom.