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Costco's Success In The Market Of Cyprus

1008 Words5 Pages

The island of Cyprus offers a suitable environment for doing business. The country is located advantageously for trade and has a beneficial system for business. Although the country remains divided, it has been able to recover from a recent financial collapse and cultivate a stable economy with excellent opportunities for foreign investment (Mullen, 2016). Cyprus’ free-market economy relies heavily on tourism and some manufacturing (Central Intelligence Agency, 2016). Currently, Costco and similar retailers are not active in the market of Cyprus. In order to determine if a warehouse retailer would be successful in such a market, several analyses should be conducted. The geopolitics, economics, and sociocultural aspects of the market of prospect should be examined. Qualities of the competing market and the company’s target market should be compared. A retailer’s success in a market is influenced by economic conditions, the characteristics of the population, and market trends. If Costco were to enter the market in Cyprus, the company would first have to ensure it offers products and services that align with the needs and lifestyles of Cypriots. Geopolitical Analysis Cyprus lies in the eastern …show more content…

There are no restrictions for foreign direct investment in Cyprus for both EU and non-EU member citizens, aside from specifically regulated industries. The banking, media, financial services, defense, real estate, and public utilities sectors are subject to authorizations prior to direct foreign investment (Kiliari and McCollum, 2015). Cyprus has a number of bilateral treaties to establish favorable conditions for investments. These agreements are designed for the protection of investments and to create procedures to reconcile any disagreements that may occur (Neocleous,

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