At a critical juncture for Europe’s competitiveness, Philip Morris International Inc. (PMI) (NYSE: PM) has published the second edition of its Economic Impact Study on the European Union, prepared by EY-Parthenon.
The study, covering the period 2021–2025, highlights the breadth of PMI’s contribution to the European Union, as well as the capabilities it has developed as part of its transformation. Its economic impact extends beyond its direct activities, supporting suppliers, manufacturing companies, researchers, retailers, farmers, workers, and local communities across Europe.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Five key findings from the 2021–2025 EU Economic Impact Study:
- A total contribution of nearly €343 billion to the EU economy during the 2021–2025 period.
- €22.3 billion in spending with European suppliers and €27.4 billion in investments in PMI’s European operations, helping to strengthen industrial capacity and supply chain resilience.
- €39.5 billion in exports, reinforcing Europe’s position as a hub for manufacturing and export activity.
- Approximately 164,000 jobs were supported in 2025, including nearly 22,500 direct jobs, as well as jobs at suppliers and in the broader economy.
- €422 million in Research and Development (R&D) investments in Europe, as well as approximately €2.2 billion in R&D activities in Switzerland, strengthening scientific capabilities and innovation for the future.
Marco Hannapel, President of Philip Morris International’s European Region, stated: “Europe is undergoing a period of profound change, which creates opportunities to reexamine the way we approach things, adapt, and choose the future we want to shape. This study provides new insights into the ongoing contribution of our business activities across the European Union. Behind the billions in economic value are people. Farmers, manufacturing workers, scientists, entrepreneurs, retail professionals, and employees—whose daily work strengthens Europe’s economic foundations. These results also reflect our own transformation. In the fourth quarter of 2025, more than half of our net revenue in Europe came from smoke-free products. In Europe, the smoke-free future is already here. The challenge now is to turn our strengths into a lasting competitive advantage. This requires pragmatism, constructive dialogue between policymakers and the industry, as well as a regulatory framework that will give businesses the certainty they need to invest, innovate, and grow. We have made our choice regarding the role we want to play in shaping the future. We choose to be part of the solutions that will shape the New Europe and help create a sustainable future.”
The study’s findings demonstrate how PMI’s steady investments, innovation, and PMI’s industrial presence help strengthen Europe’s competitiveness while creating long-term value for its economies and societies.
Christos Tsagkalidis, General Manager of Philip Morris Cyprus, stated: “This study captures something broader than a company’s economic footprint. It highlights the role that businesses can play in boosting competitiveness through investment, innovation, and long-term commitment. For Cyprus, as an open and outward-looking European economy, creating an environment that encourages investment, promotes innovation, and allows businesses to grow and create value is a key prerequisite for long-term growth. This is also our ambition at Philip Morris Cyprus: to continue our transformation and to be an active and responsible partner for the Cypriot economy and society.”
About Philip Morris Cyprus
Philip Morris Cyprus is a subsidiary of Philip Morris International (PMI), the world’s leading tobacco and nicotine products company, with products available in more than 180 countries and a workforce of over 83,000 employees. PMI is leading a transformation in the tobacco and nicotine products industry to create a future free of cigarette smoke and to replace cigarettes with alternative, scientifically validated alternatives. In 2026, Philip Morris Cyprus will mark five years of operation—a journey defined by its steadfast commitment to growth, investment in people, innovation, and contributing to the Cypriot economy and society. With a vision of a smoke-free Cyprus, Philip Morris Cyprus has transformed change into a conscious choice of innovation and responsibility.
