Employment in game publishing at companies with offices in Cyprus increased from 1,438 people in 2019 to 4,320 in 2024 — an increase of approximately 200%, meaning the workforce tripled.
These figures are highlighted in the 'Companies and Employment Figures' section of the Cyprus Game Makers Association (CYGMA) Cyprus Video Game Industry Report 2025.
It is worth noting that the report defines the employment figure as representing people employed and paying taxes in Cyprus, rather than simply everyone working for companies that have some connection to Cyprus.
As well as the figures mentioned above, the report noted that employment grew faster proportionately than the growth in number of companies, which increased by 133%, while employment increased by 200%.
As noted in CYGMA's publication, the strongest growth occurred in 2022, when employment increased by 43% in a single year, while the number of companies rose by 24.3%.
Growth subsequently moderated but continued. In 2024, the number of companies increased by 8.3%, while employment rose by 6%.
On the number of companies active in the sector based in Cyprus, the report said they numbered approxiamtely 415. It described the industry as young but exceptionally fast-growing.
The 415 figure is a bottom-up count of registered entities in CYGMA’s database, cross-checked against the Registrar of Companies with the report pointing out that between 2019 and 2024, the number of game companies increased from 169 to 393 — a 133% increase.
This growth was substantially faster than the wider European games industry. Cyprus's company base grew by roughly 18% annually between 2019 and 2024, compared with around 4% annually across Europe.
More smaller companies and teams
CYGMA's report also suggests that the industry is characterised by small companies and teams.
Approximately 72% have fewer than 50 people and only 4% have a global headcount of 500 or more.
More specefically, 30% have 2–10 employees, 41% have 11–50, 19% have 51–200 and 6% have more than 200.
The report says the typical Cyprus game company has 11–50 employees, broadly comparable with the European SME structure, but also notes that Cyprus's industry is much younger: much of it has been built since 2012.
Geographically, Limassol is the main cluster, followed by Nicosia, with Paphos and Larnaca accounting for much of the remainder. However, because Cyprus is geographically small, the report argues that the island effectively functions as one interconnected talent pool.
As the report points out, "The island is overwhelmingly mobile first: most studios build for mobile, and well over half work on nothing else. The pages that follow break the industry down by platform and set that tilt against the global mobile boom that shaped it. Most teams are small the large majority run with fewer than fifty people though a handful have grown large enough to anchor an ecosystem around them." It also notes that, "studios sit across the island and makes the case for treating Cyprus as a single, connected talent pool, before closing on the studios themselves: the companies behind well known titles and long running IPs, alongside newer names whose plans have already caught players' attention worldwide."
The key employment challenge: finding enough skilled people
The report also notes that the supply of suitable talent rather than lack of jobs is an issue.
It points out that Cyprus's 400+ game companies could theoretically absorb around 100–300 junior graduates per year, according to the report's modelling.
However, the estimated number of game-relevant graduates that Cyprus's universities can realistically supply to local studios is only around 10–40 per year. It should be noted that these are explicitly labelled as estimates rather than official statistics.
The report therefore identifies a substantial talent gap. It estimates that only around 10–40 game-relevant graduates per year are realistically available to local studios after taking account of skills, graduates' career choices and people leaving Cyprus or working remotely for overseas companies.
The report says gaming companies compete for technical talent with fintech, IT, remote employment and emigration. It particularly identifies Cyprus's fintech/forex sector as a major competitor for computer science and development talent.
Consequently, international recruitment remains important, with foreign-owned and relocated studios continuing to bring talent into Cyprus, as noted in the report.
A focus on mobile games
The report also pointed out that the sector is overwhelmingly mobile-focused, with 82.7% of companies developing for mobile.
According to CYGMA, of the companies, 57.5% develop exclusively for mobile, 33.4% develop for PC, 19.2% develop for console and 11.2% develop for web while 30.1% work across two or more platforms.
It should be noted that CYGMA itself describes this as its inaugural report, and says the figures are informed estimates drawn from named public sources rather than audited results. The methodology and datasets are expected to be refined over time.
You can view the full 'Cyprus Video Game Industry Report 2025' here.
Also read: Cyprus takes the global top place per capita in the video game industry, CYGMA report finds
Also read: The top 9 M&As in the Cyprus video game sector since 2017- the deals that amassed €2.76 billion
