Cyprus gaming industry sees significant growth and economic impact

The video game development industry has emerged as a major pillar of the Cypriot economy, contributing €1.15 billion or 3.3% to the country's GDP in 2024. According to the Cyprus Video Game Industry Report 2025, the sector has experienced exponential growth since 2019, when its contribution was just €300 million. By 2024, the industry's total turnover reached €4.35 billion, a 245% increase compared to 2019 figures.

The current ecosystem consists of 415 registered companies employing 4,320 people. In 2025, the sector generated over €3.2 billion in revenue, with mobile gaming accounting for €1.8 billion and console/PC games for €1.4 billion. A total of 571 new titles were released during the year, resulting in 615 million downloads. Despite this success, reports highlight a critical shortage of specialized personnel within the local market.

Historically, the industry began its formal development with the relocation of the Belarusian company Wargaming Group to Nicosia in 2010. Wargaming remains a key player, currently employing over 500 staff in Cyprus with expansion plans aiming to reach 700 employees by 2027. While the industry is thriving, the primary challenge remains attracting and training enough talent to sustain this rapid upward trajectory.