The services sector is the fastest growing area in Cyprus today. It contributed to about 78% of the GVA (Gross Value Added) and 71,1% of the gainfully employed population. In the past 20 years, the economy has shifted from agriculture to light manufacturing and services. The service sector contributes to the most part of countryís GDP, industry and construction come next, and manufacturing and agriculture follow.
The service sector includes tourism, transport and communications, trade, banking, insurance, accounting, real estate, public administration, health, education and business and legal services.
Tourism plays a major role in the economy as more than 2.5 million tourists visit Cyprus every year mostly from UK, Russia and form Soviet Union countries, Scandinavian countries, Germany, Greece, France and Israel.
Cyprus' role as a regional services centre is being enhanced and itís regarded nowadays as an international information centre.