Size of Domestic IT Market 

There is quite a difference between the purchasing power parity in the Republic of Cyprus and the Republic of Northern Cyprus. The GDP of the Republic of Cyprus (2001) is $9.4 billion in comparison to that of the Republic of Northern Cyprus (2002) at $787 million.(35) It is therefore not suprising that there exist more funding opportunities for IT research in the Republic of Cyprus. Yet even with the programs in place, the money allocated to the IT field is quite small in comparison to the GDP, the spending is on the order of 0.07%. This spending in terms of national expenditures is discussed on the IT Financing page.

In general for both Greek and Turkish Cyprus, the level of spending on IT related expenditures needs to increase in order to bring the island up in the technological community. It appears as though discussion is progressing in the government to bring forth more effort and energy aimed at increasing their IT position. This increase would certainly benefit the island as it has an incredible location advantage situated in the middle of Europe, the Middle East and Northern Africa.

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