Telecoms & Satellite Communications Guide Cyprus
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<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Telecoms</strong> & <strong>Satellite</strong> Communication<br />
DIGITAL FUTURE<br />
<strong>Cyprus</strong> has already successfully capitalised on its location at the crossroads of<br />
Europe, Asia and Africa on many economic fronts, and can continue to strengthen<br />
its role as a convenient regional communications base of strategic importance.<br />
Developing digital policies that attract further investment are absolutely crucial in<br />
opening new avenues to take advantage of the numerous economic opportunities<br />
provided by the dynamic digital era.<br />
Global demand for bandwidth is accelerating, with the rise in cloud computing,<br />
data transfer and storage, as well as the Internet of Things (IoT). Data centre IP<br />
traffic is also growing as more companies begin utilising data centres to cut costs<br />
and streamline workflows. This in turn will increase the demand on networks to<br />
ensure seamless and secure transfers between data centres and business locations.<br />
Privacy and security are the buzz words of the day with these developments, and<br />
<strong>Cyprus</strong> will have to ramp up its efforts to meet these demands.<br />
According to the European Commission, if the proposed measures to roll out<br />
5G across Europe are implemented by 2020-2025, the EU could gain an estimated<br />
€113 billion every year, creating up to 2.4 million new jobs. This would also allow<br />
<strong>Cyprus</strong> to use all the available 2021-2027 funding tools to resolve main issues in its<br />
digital transformation – such as ultrafast coverage and take-up, high pricing and<br />
low digital literacy. The combined use of digital technologies with other emerging<br />
technologies will certainly bring new and innovative business models, generating<br />
competitiveness, jobs and growth for <strong>Cyprus</strong>.<br />
With its constantly upgraded infrastructure and rapidly developing research and<br />
innovation sector, <strong>Cyprus</strong> is well-placed to boost its competitiveness and realise its<br />
vision of a digital future if it keeps up with the rapid evolution of the global communication<br />
and tech industry.<br />
Developing digital policies that attract further<br />
investment are absolutely crucial in opening new<br />
avenues to take advantage of the numerous economic<br />
opportunities provided by the dynamic digital era.<br />
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