Publication Date: December 2023
Report Pages: 139
Analyst: Henry Lancaster
Cyprus suffered from the effects of the pandemic in 2020 and 2021, when the tourism sector was essentially closed. During 2022, there have been adverse knock-on effects caused by Russia’s invasion of Ukraine, which has resulted in a dramatic drop in the number of Russian tourists entering the country.
The mobile market is served by four mobile network operators, including Cablenet which initially offered services as an MVNO before becoming an MNO in its own right. Cyta has offered mobile services under the Cytamobile-Vodafone brand since 2004 following a partner agreement with Vodafone Group, while Epic was acquired by Monaco Telecom in mid-2018. In mid-2021 Monaco agreed to sell its entire passive infrastructure in Cyprus. The number of mobile subscribers fell in 2020, largely the result of subscribers scaling back on multiple SIM cards as an economic measure.
The broadband market continues to develop steadily, providing the country with one of the highest broadband penetration rates in the region. DSL remains the dominant access platform, accounting for about two-thirds of fixed broadband connections. Cablenet is engaged in investment projects which will see its network pass about 80% of premises. Although fibre infrastructure in Cyprus is minimal, in common with other markets in the region there are efforts underway (supported by the government and regulator) to extend an FttP service to about 200,000 premises. As a result, the number of DSL subscribers is set to fall steadily in coming years as customers are migrated to the fibre platform.
This report introduces the key aspects of Cyprus’s telecoms market, outlining the regulatory environment and providing updated operational and financial data on the major operators. The report also reviews the mobile voice and data segments, also covering regulatory and technology developments. In addition, the report assesses the broadband and e-commerce markets.
Cyta, PrimeTel, Multichoice, Cablenet, Cytamobile-Vodafone, Epic (MTN Cyprus), Kibris Telecom
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