"I’m proud to be part of the ICT sector, which makes a significant contribution to the Cyprus economy. For me, 2026 has every oppurtunity to be better than 2025," Ilya Aristov, Engagement manager, Head of DataArt Cyprus notes.
Speaking to CBN as part of the IN Business Forecasting 2026 series, Aristov also explains why he believes 2026 will be a more pragmatic year than the previous year.
Among other things, he also reveals more about DataArt's priorities for 2026.
How do you foresee the development of the Cypriot economy in the new year, and what are its prospects? What do you see as the biggest risks, and how might they be addressed?
Cyprus is entering 2026 with solid momentum - many rating agencies have improved the country’s ratings, which are great signals for the global and regional players. I’m proud to be part of the ICT sector, which makes a significant contribution to the Cyprus economy. For me, 2026 has every oppurtunity to be better than 2025.
How do you expect your company’s sector in particular to perform in 2026? What major trends or changes do you anticipate, and what do you consider the most significant challenges?
I see 2026 as a more pragmatic year. The topic of AI is everywhere, but businesses are looking more attentively at the details and ROI. The data trend is coming back again, as you need a solid foundation for all modern tools to be effective for businesses. We’ll also continue to compete for talent.
A strong trend taking root in the Cypriot business landscape is mergers and acquisitions. Do you expect this trend to become more pronounced in your sector as well?
There is a chance that we might see more M&As in the market because, in previous years, it was unclear if AI was transforming the whole industry, but now the situation is becoming clear, and companies can continue using this approach to grow their business.
What should we expect from your organisation’s plans and strategy for growth and expansion in 2026? What specific actions do you intend to take to support this direction?
We will continue investing a lot in the education of our engineers. Working more closely with technology partners and cloud providers to deliver better solutions for our clients. Be partners for progress for our clients - empowering and educating them. Also, my personal goal is to support our Cypriot community with all the knowledge and expertise DataArt has.
The new year sees the implementation of tax reform, taking place 22 years after the previous tax reform. How do you expect it to affect the Cypriot economy, businesses, and Cyprus’ ability to attract foreign investment?
Politics is not my area of expertise, but reforms should happen regularly as situations change, countries develop, and new priorities appear. If there are no surprises, the new terms are clear and predictable, and understandable, then it should work well.
