Nicosia, Cyprus. Multinational enterprise groups employed 18 per cent of the workforce in Cyprus in 2024, according to Eurostat, placing the country among the lowest in the EU and EFTA. Cyprus recorded 3,390 multinational enterprise groups operating in the country that year.
Cyprus within EU and EFTA totals
Across the EU and EFTA, 149,678 multinational enterprise groups were active in 2024. Multinational enterprise groups employed 51.6 million people across the EU and EFTA, representing 30 per cent of total employment in the business economy, including industry, construction and services.
Control of multinational enterprise groups
Of the total multinational enterprise groups across the EU and EFTA, 96,201 groups, or 64.3 per cent, were controlled by EU countries, while 14,098 groups, or 9.4 per cent, were controlled by EFTA countries. A further 39,379 groups, or 26.3 per cent, were controlled by countries outside the EU and EFTA.
Countries with the greatest control
Germany accounted for 15,342 groups, or 13.9 per cent of the total, followed by the Netherlands with 13,805 groups, or 12.5 per cent, and Switzerland with 10,824 groups, or 9.8 per cent. Outside the EU and EFTA, the United Kingdom controlled 14,118 groups, the United States 8,003 groups, and China, including Hong Kong, 2,135 groups.
Highest employment shares across the region
The highest shares of employment in multinational enterprise groups were recorded in Luxembourg at 54 per cent, followed by the Czech Republic and Sweden at 44 per cent each. Switzerland recorded 43 per cent and Norway 42 per cent.
How do you think Cyprus’s low share of employment in multinational enterprise groups affects its business economy?