Cyprus: ICT services personnel costs 2021

In 2021, the personnel costs of the ICT services industry in Cyprus increased by 76.6 million euros (+14.43 percent) since 2020. Therefore, the personnel costs in Cyprus reached a peak in 2021 with 607.62 million euros.
According to Eurostat, cost of personnel are defined as the total remuneration payable by an employer to an employee in return for work during the reference period. It also includes taxes and employees' social security contributions retained by the unit as well as the employer's compulsory and voluntary social contributions. Personnel costs are made up of wages and salaries and employers' social security costs.

Find more statistics on the ICT services industry in Cyprus with key insights such as turnover, production value, and number of employees.

Annual personnel costs of the information and communication technology (ICT) services industry in Cyprus from 2012 to 2021 (in million euros)

Characteristic	Annual personnel costs in million euros
2021	607.62
2020	531
2019	459.3
2018	402.6
2017	367.5
2016	332.2
2015	326
2014	339.2
2013	333.3
2012	322

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Release date

March 2024

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Region

Cyprus

Survey time period

2012 to 2021

Supplementary notes

The source adds the following information: Personnel costs are defined as the total remuneration, in cash or in kind, payable by an employer to an employee (regular and temporary employees as well as home workers) in return for work done by the latter during the reference period. Personnel costs also include taxes and employees' social security contributions retained by the unit as well as the employer's compulsory and voluntary social contributions. Personnel costs are made up of wages and salaries and employers' social security costs.
Data coverage corresponds to aggregate G-U_ICT of CE Rev2.

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