KREAB visits Cyprus to bring businesses and key organizations into the rebranding effort, with a new narrative aimed at positioning the country as a business hub
Swedish communications consultancy Kreab has presented the strategy it is using to help repair Cyprus’ reputation internationally following a tender awarded in late December 2024.
Sources familiar with the matter told Kathimerini that representatives of the international firm visited Cyprus to present their strategy to business leaders, investors, and key organizations.
A major survey involving about 1,100 people from different countries and stakeholder groups has been central to the strategy, identifying both positive and negative perceptions of Cyprus.
The plan aims to promote Cyprus as a credible business and investment center and attract further investment to the country.
The central goal of the rebranding project is to improve Cyprus’ international image, particularly as an investment destination.
The government hired Kreab to launch an international campaign under the direction of Invest Cyprus as part of its efforts to improve the country’s reputation and strengthen the economy’s sustainability and competitiveness.
According to sources, the government believed that negative or outdated perceptions of Cyprus abroad were damaging the country’s image and appeal.
The golden passport scandal, in particular, left a significant mark on Cyprus’ international reputation, reinforcing concerns about transparency, oversight, and corporate and institutional governance.
The international consultancy also supported Cyprus’ efforts to counter negative perceptions and maintain the country’s positive standing in overseas tourism markets, particularly following the impact of the Middle East war in March.
That effort formed part of a broader crisis-management plan included in the government’s agreement with Kreab.
The three-year contract is worth €1.5 million, with no additional spending required.
Kreab already had a presence and existing partnerships in Cyprus. In 2023, it carried out a study for the Foreign Ministry on the direction of the country’s communications campaign.
The firm was also working with the Central Bank of Cyprus and the Association of Cyprus Banks on matters concerning the international reputation of the country’s financial system.
Research and messaging
Kreab views its work in Cyprus as a long-term strategy involving both the business community and society more broadly. Its aim is to improve understanding of the country, the reforms underway, and the opportunities being created.
According to information obtained by Kathimerini from the firm, Kreab is drawing on its international experience while adapting its approach to the particular characteristics of the Cypriot market.
The strategy began with a major survey involving about 1,100 people from different countries and stakeholder groups.
The survey was not limited to people who already knew Cyprus well. It also included people who had never visited the country and whose perceptions were shaped by what they had heard or read.
It sought to answer several fundamental questions: How do different groups perceive Cyprus? What distinguishes the country? What are its strengths and competitive advantages? What creates concerns or difficulties for prospective investors? And, most importantly, which aspects of modern Cyprus are not being communicated effectively?
The findings provided the foundation for developing a unified strategic message about Cyprus.
The next stage, Kathimerini was told, is to turn those findings into a coherent narrative that different organizations and institutions can use.
Kreab’s central idea is not to give people a prepared script or specific language they must repeat. Instead, it intends to provide them with facts and arguments so they can speak about Cyprus consistently and credibly.
The strategy is based on the view that a country’s image is shaped not only by official campaigns or media coverage. It is built every day through conversations among businesspeople, investors, professionals, tourists, organizations, and international partners.
The campaign’s central message is that the more people understand the realities of Cyprus, the better equipped they will be to act as ambassadors for the country abroad.
Addressing the shortcomings
The strategy does not rely solely on promoting positive messages. It also recognizes that Cyprus faces real challenges that must be addressed quickly if the country is to strengthen its credibility, competitiveness, and international image.
One example is the difficulty a business may encounter when attempting to open a bank account or establish operations in Cyprus.
Although Cyprus has taken important steps to strengthen its banking system and tackle problems inherited from the past, that progress needs to be better understood and more widely recognized internationally.
Kreab’s three-year rebranding project reflects a long-term approach that does not treat communication as a one-off campaign.
Instead, it sees the process as an ongoing effort involving research, message development, community engagement, the creation of positive stories, and continuous communication with different stakeholder groups.
The firm’s approach is based on the view that Cyprus must do more than communicate its achievements effectively. It must also build a wider network of people and organizations with a thorough understanding of the country.
These people should be able to present evidence of Cyprus’ progress and help create a fuller and more credible image of the country abroad.
Bringing businesses into the effort
During its visit to Cyprus, Kreab began mobilizing the business community, encouraging organizations to communicate the country’s successes and reforms more clearly.
One of the survey’s main conclusions was that Cyprus has made significant progress in recent years, but this has not been reflected strongly enough in the country’s international image or communicated in a consistent and effective way.
Kreab is therefore seeking to involve organizations and businesses with positive stories to share.
The approach will be incorporated into their contacts with international partners, investors, and other groups that influence how Cyprus is perceived.
