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Economic affairs in Cyprus are dominated by the division of the country into the southern (Greek) area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area. The Greek Cypriot economy is prosperous but highly susceptible to external shocks. Erratic growth rates in the 1990s reflect the economy's vulnerability to swings in tourist arrivals, caused by political instability on the island and fluctuations in economic conditions in Western Europe. Economic policy in the south is focused on meeting the criteria for admission to the European Union. As in the Turkish sector, water shortage is a growing problem, and several desalination plants are planned. The Turkish Cypriot economy has about one-fifth the population and one-third the per capita GDP of the south. Because it is recognized only by Turkey, it has had much difficulty arranging foreign financing, and foreign firms have hesitated to invest there. The economy remains heavily dependent on agriculture and government service, which together employ about half of the work force. Moreover, the small, vulnerable economy has suffered because the Turkish lira is legal tender. To compensate for the economy's weakness, Turkey provides direct and indirect aid to tourism, education, industry, etc.

It's worthy to note that in the internationally recognised Greek Cypriot side, all visitors to the island who have a father of Cypriot extraction are required to obtain an Exit Visa from a local Defence Ministry office. This must be done for those of 16 years of age and older.

Government computerization and telecommunications development, two of the priorities of the government's 5-year development plan (1994-1998), provide excellent opportunities for U.S. exports. Sales of computer-assisted design systems, new capital equipment for textile, clothing, footwear production, medical equipment, environmental equipment, and services are also expected to grow. U.S. pressure resulted in the adoption of a new copyright law in 1994 and a new patent law in 1998.

Turkish Cypriots, together with Turkey, do not accept the Republic's rule over the whole island and call it the "Greek Authority of Southern Cyprus". They control the northern third of the island, following a military invasion by Turkey in 1974. This happened following a coup sponsored by the military regime of Greece, see: the 1974 crisis between Greece and Turkey.

The Cyprus Broadcasting Corporation (CyBC) is the main broadcaster in the Greek Cypriot area, although there are also privately-owned radio and TV stations. A TV channel from Greek state broadcaster ERT is also available. The British Forces Broadcasting Service also operates radio and TV stations, although the TV signal is now confined to the Sovereign Base Areas or encrypted for copyright reasons. In the Turkish Cypriot area, Bayrak Radio Televizyon is the local broadcaster, with radio and TV from Turkish state broadcaster TRT also available.

In 1974, following a coup by the Greek backed National Guard and the arrival of Turkish troops (claiming their authority was as one of the 3 international guarantors of Cyprus), the Turkish Cypriots formally set up their own institutions with a popularly elected president and a Prime Minister responsible to the National Assembly exercising joint executive powers. In 1983, the Turkish Cypriots declared an independent "Turkish Republic of Northern Cyprus" (TRNC). In 1985, they adopted a constitution and held elections--an arrangement recognized only by Turkey.

The Turkish Cypriot area proclaimed its independence in 1975, and the self-styled Turkish Republic of Northern Cyprus was established in 1983. This state was recognised only by Turkey. Furthermore, Organization of the Islamic Conference granted it observer member status under the name of "Turkish Cypriot State". The other power with territory on Cyprus is the United Kingdom. Under the independence agreement, the UK retained title to two small areas on the southern coast of the island, around Akrotiri and Dhekelia, known collectively as the UK sovereign base areas. They are used to host military bases.

The music of Cyprus includes a variety of classical, folk and popular genres. Recent trends have seen the rise of Ayia Napa, a resort, as a home for UK garage music, similar in its evolution to that of the island Ibiza.

Cyprus has an open, free-market, serviced-based economy with some light manufacturing. The Cypriots are among the most prosperous people in the Mediterranean region. Internationally, Cyprus promotes its geographical location as a "bridge" between West and East, along with its educated English-speaking population, moderate local costs, good airline connections, and telecommunications.