Cyprus employment increased 1.7% year over year to an estimated 525,167 people in the second quarter of 2026, according to the state statistical service, Cystat. Employees accounted for 472,254 of the total, while 52,913 were self-employed. The increase points to continued labor market growth across both wage employment and independent work.
Trade, Construction And Leisure Lead Employment Growth
Wholesale and retail trade, including motor vehicle and motorcycle repair, recorded some of the strongest employment gains, alongside construction and arts, entertainment and recreation.
Those sectors are closely linked to domestic economic activity, with trade reflecting consumer demand and construction reflecting investment. Employment growth in leisure-related industries also points to continued activity in consumer-facing services.
Hours Worked Rise Faster Than Employment
Labor input increased faster than headcount. Cystat estimated that employees and other workers put in 246.57 million hours during the second quarter, up 2.2% from a year earlier.
The increase suggests that businesses were not only employing more people but also recording higher total hours worked. Wholesale and retail trade, construction, and arts, entertainment and recreation again recorded the strongest gains.
Labor Market Expansion Remains Broad-Based
The combination of higher employment and hours worked points to continued expansion in Cyprus’ labor market during the second quarter. The pace remains moderate, but gains across several major sectors indicate that labor demand continued to support economic activity.
At WN Cyprus, 84% Of Showcased Game Teams Were Looking For Backing
While policymakers and business leaders discussed how the island could support more studios, 84% of the teams participating in the Developer Showcase were looking for an investor, a publisher, or both, according to organisers.
More than 20 teams presented projects at WN Conference Cyprus’26, held at Parklane in Limassol on 17 and 18 September. According to WN’s post-event figures, the conference drew 503 attendees from 251 companies, with 52% of participants holding C-level roles. The two-day event brought together developers, publishers, investors and technology companies for meetings, discussions and game demonstrations. It was WN’s fifth consecutive annual conference in Cyprus, where the organiser has held games industry events since 2018.
The funding needs revealed by the showcase gave added weight to one of the programme’s central questions: can Cyprus develop from a location for international company headquarters into a country where studios can also find talent, investment and support for new projects?
Dr Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy, discussed that question with Tanya Romanyukha, General Manager of TechIsland. Their conversation covered access to talent and finance, as well as the conditions needed for more studios to build and grow from Cyprus.
Investment decisions under pressure
The rest of the programme also reflected the difficult commercial environment facing game developers. Discussions raised the topics of cautious investment, layoffs, changing player behaviour and the effect of artificial intelligence on production and distribution.
In To Scale or Not to Scale: That Is the Question, Pavel Istomin, Publishing Game Producer at Hypercell Games, and Nikolay Shapovalov, Chief Publishing Officer at playducky.com, considered how studios decide whether to commit more money to a game or stop development. Phillip Black, co-host and co-author of Deconstructor of Fun, moderated the discussion, which focused on the market data and early performance indicators used in publishing decisions.
A separate session examined how games can attract an audience before release. FLEXUS founder Semyon Kozyura joined Julia Lebedeva, COO and Partner at WN Media Group, to discuss Dear Passengers, which organisers said had accumulated three million Steam wishlists before launch.
Four teams also presented their projects to an industry jury during the Indie Pitch:
Through Your Eyes by Omeelia GmbH
Anicards by Dragocat
World of Sea Battle by THERA INTERACTIVE
Synvector by North Souls Games
The AWS Developer Showcase Awards distributed $7,500 in AWS credits. Mirrorbane, presented by Pavel Moskvin, received $5,000, while Midnight Watcher: Village, presented by Kirill Reznichenko, received $2,500.
Six Cyprus Games Industry Awards announced
The Cyprus Games Industry Awards were presented during the WN Networking Party on 17 September. A public vote determined the shortlists before a jury selected the winners in six categories. Companies did not have to be founded or headquartered in Cyprus to qualify, but were required to have a presence on the island and contribute to its games industry.
The 2026 winners were:
Growth and Marketing Partner: OHM Agency
Publisher of the Year: AppQuantum
PC Games Achievement:Heroes of Might and Magic: Olden Era by Unfrozen
Mobile Games Achievement:Standoff 2 by AXLEBOLT
People and Workplace Award: MY.GAMES
Game Commerce and Payments Partner: Xsolla and Unlimit
The awards covered game development, publishing and the companies providing marketing, employment and payment services to the sector.
WN has provisionally scheduled its next Cyprus conference for 4 and 5 November 2027.
For many of the teams showing their work in Limassol, however, the next milestone remained commercial. The application data indicated that more than four in five were still seeking the investment or publishing relationship needed to take their games further.
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