In recent years, Cyprus has emerged as a significant player on the global business stage, thanks in large part to the visionary leadership of its executives. These leaders have not only propelled their companies to international prominence but have also contributed to the island's reputation as a burgeoning hub for foreign direct investment (FDI).

The business sentiment among Cypriot CEOs has shown a notable shift towards optimism. According to PwC Cyprus' 14th Annual CEO Survey, 57% of business leaders anticipate an improvement in global economic growth over the next 12 months, up from 40% the previous year. This optimism extends to the local economy, with 69% expressing confidence in its growth prospects, a significant rise from 43% in the prior year.

Despite prevailing global challenges, including geopolitical tensions and economic uncertainties, Cypriot CEOs remain optimistic about their organizations' revenue growth. The same survey highlighted that 40% of CEOs are "very" or "extremely confident" about their company's revenue growth over the next 12 months. This optimism is further evidenced by the fact that 48% of CEOs plan to increase their organization's headcount in the coming year, indicating a commitment to expansion and investment in human capital.

However, this optimism is tempered by awareness of emerging challenges. Concerns about geopolitical instability (36%), the availability of key skills (26%), and technological disruptions (24%) remain prevalent. Additionally, the rapid evolution of technologies such as Artificial Intelligence (AI) presents both opportunities and challenges. Notably, 58% of Cypriot CEOs believe that AI has resulted in efficiencies in how employees use their time at work, underscoring the importance of digital transformation in their strategic agendas. ​

Cyprus has made significant strides in fostering a conducive environment for entrepreneurship and innovation. The island's commitment to nurturing startups and small businesses is evident in its impressive leap in the Startup Blink Global Startup Ecosystem Index 2024, where it secured the 45th position globally. This advancement underscores the effectiveness of policy reforms and investments aimed at bolstering the entrepreneurial landscape.

The European Innovation Scoreboard 2024 highlights Cyprus's strengths in innovation, particularly among SMEs. The country excels in product innovation, business process innovations, and collaboration between innovators and other companies, with scores significantly surpassing the EU average. For instance, collaboration between innovators and other companies stands at 237.3% of the EU average, reflecting a robust culture of cooperation and knowledge sharing. ​

Despite these achievements, challenges persist. Financing Research and Development (R&D) remains a hurdle, with Cyprus's R&D expenditures in both public and private sectors lagging behind the EU average. However, there has been a positive trend, with public sector R&D expenditure growing by 9.8 percentage points and private sector by 15 percentage points between 2017 and 2024. This indicates a growing recognition of the importance of innovation and a commitment to enhancing R&D investments.

The entrepreneurial spirit of Cyprus is exemplified by several business leaders who have achieved remarkable success both locally and internationally, reflecting resilience, innovation, and a commitment to excellence. 

Born into a Cypriot shipping family, Stelios Haji-Ioannou made a name for himself by disrupting European travel. In 1995, at just 28, he launched easyJet, one of Europe’s first low-cost airlines, transforming the way millions travel. His bold strategy paid off—easyJet is now a household name and one of the continent’s largest carriers. Stelios expanded the "easy" brand into multiple sectors, including hotels, coworking, and car rentals, establishing a diverse portfolio. Knighted in the UK for his services to entrepreneurship, he remains a globally recognised symbol of innovation. Through his Stelios Philanthropic Foundation, he also supports youth, education, and entrepreneurship in Cyprus, Greece, and the UK.

Polys Haji-Ioannou, a key figure in global shipping, has built an influential empire through his company Polyar Tankers. He oversees a modern fleet of oil and chemical tankers operating across major international trade routes. A native of Cyprus and brother to Stelios, Polys has also made strategic investments in real estate and aviation, with properties in countries including Singapore, India, and Greece. Known for maintaining a low public profile, his diversified global portfolio speaks volumes about his business acumen. Operating from Monaco while maintaining strong Cypriot ties, Polys is considered one of the most globally active Greek-Cypriot entrepreneurs today.

Originally from Nicosia, John Christodoulou fled Cyprus with his family during the 1974 invasion and rebuilt his life in the UK. Starting with modest means, he entered the property market in the 1990s and built the Yianis Group into a billion-euro real estate empire. His portfolio includes luxury hotels, office buildings, and commercial assets across London and Manchester—among them the London Marriott Canary Wharf and Hilton Manchester Deansgate. Frequently featured on the Sunday Times Rich List, Christodoulou is widely recognised for his philanthropy and dedication to the Cypriot diaspora, bridging his roots with a thriving international business presence.

Nicosia-born entrepreneur Nasos Ktorides is a leading force in international energy infrastructure. As the founding CEO of the EuroAsia and EuroAfrica Interconnectors, he has spearheaded multi-billion-euro projects connecting Cyprus’s electricity grid with Europe and Africa via subsea cables. These ventures are considered critical to regional energy security and sustainability, placing Cyprus on the global energy map. Ktorides’s leadership has attracted global partnerships while advancing clean energy solutions. Beyond business, he has championed humanitarian causes, notably serving as Cyprus’s first UNICEF Goodwill Ambassador and supporting educational and social programs across the island.

A native of Cyprus, Maritsa Lazari co-founded Lazari Investments with her late husband Chris Lazari after emigrating to the UK at 16. Together, they built a vast real estate empire in London, with holdings such as the Brunswick Centre and other landmark properties. Following her husband’s passing, Maritsa has continued to oversee the company’s strategic growth, maintaining its position as one of the UK’s most prominent family-owned property firms. Her leadership reflects a strong combination of vision and resilience, rooted in Cypriot heritage and extended through a lasting international legacy.

Constantinos Loizou is a rising Cypriot innovator with a growing international footprint in the biotech sector. He founded EMBIO Diagnostics to develop real-time biosensor devices, particularly focused on indoor air quality and environmental safety. His scientific expertise and entrepreneurial drive have attracted global attention, partnerships, and investment. Loizou represents a new wave of Cypriot CEOs driving tech innovation, with a strong emphasis on sustainability and global relevance. His journey from a local lab to the international biotech stage underlines Cyprus’s expanding role in the world of science and clean technology.

Thrasos Tsangarides founded UW Group in Limassol in 2000, identifying an opportunity to streamline shipping and logistics operations on an international scale. Within a decade, he successfully expanded the group’s presence into Greece and beyond, offering services across commercial shipping, ship agency, and logistics. Under his strategic leadership, UW Group has grown into one of Cyprus’s most globally active shipping companies. Tsangarides’s influence in maritime circles and commitment to international partnerships have positioned his firm as a respected name across regional and global supply chains.

Cypriot CEOs are no longer just leaders of local enterprises—they are architects of global ambition, expanding their influence across industries and continents. Their stories highlight how a small island nation can produce world-class visionaries capable of reshaping markets, pioneering technologies, and setting new benchmarks in business excellence.