Cyprus fell to the 51st position out of 64 countries in terms of digital competitiveness in 2023, marking a decline of six places compared to 2022, according to a newsletter released by the Economic Research Center of the University of Cyprus.

The study, conducted in collaboration with the Cyprus Chamber of Commerce and Industry (CCCI), as part of the IMD World Competitiveness Center, highlights ongoing challenges faced by the country in this regard.

The drop in ranking, observed for the third consecutive year, is attributed to deteriorating scores across all categories assessed. The most significant decline was noted in Cyprus's readiness for the future, along with a substantial decrease in knowledge-related indicators. In 2022, Cyprus held the 45th position, further deteriorating from the 43rd in 2021 and 40th in 2020.

Persistent shortcomings identified in the report include factors such as the percentage of graduates in STEM (science, technology, engineering, and mathematics) fields, net flows of international students, mobile broadband subscriptions, business agility, utilization of big data analytics by enterprises, and knowledge transfer between universities and businesses.

While Cyprus continued to perform favorably in certain aspects, such as the employment rate of scientific and technical personnel, the percentage of the population with tertiary education, and the proportion of women with tertiary education, the overall ranking reflects challenges in embracing and developing digital technologies to enhance the efficiency of the public sector, businesses, and society at large.