Multinational employment in Cyprus remains among the lowest in Europe, with just 18% of workers employed in such corporations, according to Eurostat data published on Wednesday.
The figures highlight significant differences across European countries in the presence and impact of multinational corporate groups.
In 2024, a total of 149,678 multinational enterprise groups operated across the European Union and European Free Trade Association (EFTA) countries.
Of these, 96,201 groups were controlled by EU member states, while 14,098 were controlled by EFTA countries.
Cyprus positioned mid-range in company control
Cyprus ranks in the middle of the EU list in terms of multinational corporation control, with 3,390 enterprise groups.
The data also show a slight recovery after a period of continuous decline in previous years.
Germany leads the ranking with 15,342 groups, followed by the Netherlands with 13,805 and Switzerland with 10,824.
Influence of non-European economies
A significant share of multinational groups is also controlled by countries outside the EU and EFTA framework.
The United Kingdom leads with 14,118 groups, followed by the United States with 8,003 and China and Hong Kong with 2,135.
Multinational corporations employ 51.6 million people across the EU and EFTA, accounting for 30% of total employment in the business economy, including industry, construction and services.
Cyprus below European average
While countries such as Luxembourg (54%), the Czech Republic and Sweden (44%), Switzerland (43%) and Norway (42%) lead in multinational employment, Cyprus remains near the bottom of the list alongside Greece (14%) and Iceland (18%).
The data underline the structural gap in multinational presence across smaller and southern European economies.
Also read: Cypriots lead EU in online health information use, Eurostat says
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