Cyprus ranks first worldwide per capita for the number of video game companies, industry revenue and mobile game installs, according to the Cyprus Video Game Industry Report 2025.
The report, published by the Cyprus Game Makers Association (CYGMA), identifies more than 400 companies, over 4,300 employees and more than €3.2 billion in industry revenue in 2025. Games developed by Cyprus-based companies also rank third globally by mobile downloads.
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A Rapidly Expanding Industry
Cyprus’ gaming sector has grown significantly in recent years. Between 2019 and 2024, the number of companies increased from 169 to 393, while employment nearly tripled from 1,438 to 4,320.
Industry turnover rose from €1.26 billion in 2019 to €4.35 billion in 2024. Over the same period, the sector’s contribution to GDP increased from around €300 million to €1.15 billion, lifting its share of the economy from 1.3% to 3.3%.
CYGMA says more than 400 studios and related businesses now operate on the island, placing Cyprus among Europe’s 10 largest video game markets by revenue.
Mobile Gaming Drives Revenue
Mobile games remain the sector’s biggest source of revenue. In 2025, they generated around €1.8 billion, compared with €1.4 billion from PC and console games.
Cyprus-based companies released 571 mobile titles that generated about 615 million downloads. This puts Cyprus third worldwide for mobile game downloads and 11th for in-app purchase revenue.
However, most mobile revenue came from older titles. Only €66 million, or about 4% of the €1.8 billion total, was generated by games released in 2025.
Talent Shortages Remain A Challenge
The industry is heavily focused on international markets, with most games developed in Cyprus targeting users abroad.
Rapid growth has also created a shortage of specialised workers. Universities in Cyprus currently produce only three to six graduates a year from dedicated video game development programmes, while the industry is estimated to need between 100 and 300 new entry-level employees annually.
CYGMA is working with universities to expand specialised programmes, which could eventually add 45 to 85 trained graduates to the labour market each year.
Major Deals Highlight Industry’s Growth
The report also points to Cyprus’ growing importance in the global gaming industry through major acquisitions. Since 2020, disclosed deals involving Cyprus-based companies have reached €2.76 billion.
One of the largest was Miniclip’s €1.06 billion acquisition of Easybrain in 2025. The report also highlights the sector’s strong direct-to-consumer expertise: around 86% of PC and console game revenue comes from channels outside Steam.
Together, the figures show how Cyprus has developed from a relatively small gaming market into a significant export-oriented hub for video game companies.







