 In 2012, Eurostat reported that Cyprus is the most educated country in Europe after Ireland since 49.9% of Cyprus’s residents have degrees.In 2013, only three other EU Member States invested more public funds in education than Cyprus, as measured by the share of GDP (6.5% compared to a 5.0% EU average).The Cyprus Tourism Organisation, usually abbreviated to CTO, and known as KOT in Greek, was a semi-governmental organisation charged with overseeing the industry practices and promoting the island as a tourism destination abroad.