MENAFN - Gulf Times. Cyprus's 'health-over-wealth response to the pandemic has made the island an increasingly desirable place for investors, according to new global citizenship figures. Applications to invest and stay in Cyprus jumped by 250% in the first quarter of 2020 compared to the same period in 2019.
Data analysts also predict a further shift in global movement with those who can afford it choosing to live in countries that have better weathered the crisis.
Global strategy adviser Parag Khanna, founder of FutureMap, said, 'The combined effect of the Covid-19 pandemic on public health, the global economy and social behaviour may augur deeper shifts in our human geography — and our distribution around the world. 'As the curtain lifts, people will seek to move from poorly governed and ill-prepared places to more proactive countries with greater resilience and better medical care.
The Mediterranean island of Cyprus which boasts 320 sunny days a year has always profited handsomely from tourism, pulling in €54.6mn in 2019.
However, when the pandemic started to run unchecked throughout Europe, Cyprus closed all airports and shut up shop. These early restrictions have largely paid off.
The latest figures released by the government show the total number of coronavirus cases on the island at 935. The health ministry has recorded 17 deaths.
Christian Kalin, chairman of the global citizenship firm Henley & Partners, said, 'Investment migration has shifted from being about living the life you want in terms of holidays and business travel to a more holistic vision that includes healthcare and safety.
Cyprus also has an enviable and globally-respected reputation in the maritime industry, with the island considered to be one of the most reliable and competitive shipping centres in the world in terms of services, registration fees and taxes.
And the latest addition to the island's business portfolio has even lured Hollywood hotshot Nic Cage over after the government gave production companies that film in Cyprus a choice between a cash rebate or tax credit, among other incentives.
