Assignment 1-5 Country Analysis 1
November 20, 2008
Cyprus, located in the Middle East in the northeast corner of the Mediterranean, is a country divided (A country, 2005). Cyprus is currently divided between the Greek Cypriots, which make up about 78% of the population, and Turkish Cypriots which account for 18% of the population (Cyprus, 2008). The Greek Cypriot government is a member of the European Union (EU) and it operates as a free market society (Cyprus, 2008). Cyprus offers an excellent opportunity for potential foreign investors and trade partners but all potential investors and trade partners should be very aware of the risks associated the internal conflicts within Cyprus.
Cultural Impact on FDI
Although the culture in Cyprus is diverse, a large segment of the population, 78%, identify themselves as Greek Orthodox Christians sharing many of the same values, beliefs, and customs (Cyprus – culture, 2008). The Greek Cypriots place strong emphasis and value on the extended family, and they honor the elderly citizens (Culture, 2008). With nearly 96% of Cypriots identifying themselves as either Greek Orthodox Christians or Muslims, religion plays an important role in their lives, and it helps to shape the culture (Culture, 2008). The influence of religion on the culture can be seen through many of the holiday celebrations, carnivals, and observations as well as in their numerous hand crafts and sculptures.
Since their acceptance into the EU the Greek Cypriots have adopted more of the Western world’s culture of materialism, entertainment, and fashion. The younger Cypriots, while still holding to many of the ancient traditions and customs, have created many customs of thei ...