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Cyprus Becomes A Global Leader In Video Game Development

by News Editor

August 20, 2026

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.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.