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Cyprus Tertiary Sector
By the beginning of the 1990s, the service, or
tertiary, sector
had become the most important part of the economy of the
Republic
of Cyprus and accounted for more than half the country's
GDP. It
was also the economy's fastest growing component and
through this
growth was gradually transforming the economy into a
postindustrial
and information one. Tourism had long been the most
important
subsector, but in the future financial and transport
services and
offshore enterprises were thought likely to take the
leading role,
favored by the island's fortunate location between Europe
and the
Middle East and its stable social and economic conditions.
Data as of January 1991
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