President to head mission to UK in effort to reverse Cypriot "brain drain"

President Nikos Christodoulides will be heading a mission to the UK in May to offer successful Cypriots working there what he described as "an attractive package" to return to Cyprus.

Speaking at the start of the 19 February Cabinet meeting, Christodoulides said that, "the continued growth of the economy creates new jobs, creates increased needs in combination with the reduction of unemployment, and it is for this reason that on 21 May I will travel to London to meet with Cypriots working there, to present an attractive package for their return to Cyprus."

"I will also be accompanied by Cypriot and foreign businessmen who are looking to find staff. We will go to attempt - and I believe it will be successful - to bring back to our country and have brain gain instead of brain drain," he noted

Christodoulides also made reference to Cyprus' economic growth rate, which is among the highest in Europe, and the reduction of unemployment to 5%, which is a fifteen-year record low.

"Today, we are making two important decisions regarding the labour market. Let me remind you that we have an increase in employment to 80% and an improvement in the average salary by 8.5%," he said.

Furthermore, he noted that, "within this context, today we are making two decisions. The first concerns the increase in the minimum wage for 19 professions in the hotel industry, effective from 1 January, 2025. I should note that over the last two years, the increase has amounted to more than 10% in relation to salaries, significantly strengthening the wages of thousands of low-wage workers in the hotel industry."

"Within this framework of the needs that are being created, today we will discuss the framework for employing foreign workers, so that there is the necessary staffing level, so that businesses can operate, the President of the Republic concluded.

(Source: InBusinessNews)