Cyprus Video Game Industry € 3.2 billion in Revenue
Cyprus has more than 400 companies operating in the video game industry, generating more than € 3.2 billion in games revenue in 2025. This information is according to the newly-published Cyprus Video Game Industry Report 2025, created by the Cyprus Game Makers Association (CYGMA).
The video gaming sector has expanded significantly in recent years. Between 2019 and 2024, the number of registered game companies increased from 169 to 393, while employment grew from 1,438 to 4,320 people. Over the same period, the sector’s contribution to Cyprus GDP increased from 1.3% to 3.3%, reaching approximately € 1.15 billion in value added.
Part of this rapid development is due to the relocation of a number of gaming companies to Cyprus during and after COVID. This influx of designers and developers came primarily from outside the European Union, consolidating the position of Cyprus as a magnet for inward investment.
The video gaming industry also has a significant international reach. In 2025, Cyprus-based companies released more than 600 new games, while Cyprus ranked first globally per capita for game companies, games revenue and downloads. The country also ranked third globally in mobile game downloads.
The figures place video game development among Cyprus expanding technology and digital sectors. The combination of rising company numbers, employment, economic output and international market reach demonstrates the growing scale of the gaming industry and its contribution to the Cypriot economy.
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