Cyprus is one of the world's top 25 destinations for nomadic executives, according to a new ranking by Savills Executive Nomad Index.
Specifically, the island nation ranks 21st on the index, ahead of Italy but behind Mauritius.
It is worth noting that the index primarily measures the attractiveness and ease of access to remote working. Each country is ranked on the basis of internet speed, air connectivity, climate stability, housing prices on the property market and overall quality of life.
By city, Middle Eastern destinations such as Dubai and Abu Dhabi topped this year's list due to their digital and physical connectivity.
Also in the top ten were Malaga (third), Miami (fourth), Lisbon (fifth), Barcelona (sixth), Palma (seventh), Barbados (eighth), Algarve (ninth) and Santa Lucia (tenth).
In terms of executive nomads, Savills says these individuals tend to be older, travel with their family and pay more attention to physical and digital comfort than regular digital nomads.
In addition, this category of nomad prioritises location security, access to medical care and educational infrastructure. They are more likely to rent property and place greater value on extra space and distance from local infrastructure.
The report notes that rents in prime locations have increased by an average of 5 per cent over the past year in the 25 countries included in the index. Meanwhile, some destinations popular with digital nomads have seen increases of more than 15 per cent.
As a reminder, Cyprus has a special scheme for digital nomads.
The Cyprus Digital Nomads Visa Scheme is a remote working policy used throughout the European Union and introduced by a decision of the EU Council of Ministers on 15 October. The EU describes the scheme as "remote working for third-country nationals".
In 2024, applicants will be able to obtain a Cyprus Digital Nomad Visa by proving that they are:
- work remotely in the IT sector while residing in Cyprus;
- Work for an employer or client from abroad;
- Have an income of at least €3500 net;
- have a suitable residence in Cyprus.