Analysis shows an increasing contribution to national turnover, highlighting the growing economic significance of Cyprus’ games industry
C Business Advisors has published the Cyprus Games Industry Footprint 2024, a presentation examining the trends in economic footprint of the games industry in Cyprus and highlighting a sector that is playing an increasingly significant role in the country’s digital economy.
Drawing on official national statistics for IP-driven creative industries, the presentation reveals that publishing net turnover reached €4.35 billion in 2024, representing 5.72% of Cyprus’ total national net turnover and marking 244.7% growth compared with 2019. The trends noted underline the rapid expansion of games-related activity in Cyprus and reinforce the country’s emergence as a growing hub for game publishing and development.
As the presentation showcases, the games industry has become one of the most dynamic segments of Cyprus’ Information and Communication Technology sector, supported by sustained growth across both publishing and development-related activities. Cyprus’ growing attractiveness as a destination for games companies is underpinned by a combination of strategic advantages, including European Union membership, a competitive and robust tax framework, an extensive network of more than 65 double tax treaties, a strong legal framework for intellectual property protection, access to a highly skilled multilingual workforce and a vibrant international business community.
The presentation further identifies approximately 260 active games companies operating in Cyprus and references available statistics indicating that persons employed in publishing have tripled between 2019-2024.
The Cyprus Games Industry Footprint 2024 forms part of C Business Advisors’ commitment to providing businesses, investors and policymakers with data-driven insights into sectors shaping the future of the Cypriot economy.
Access the full presentation here: Cyprus Games Industry Footprint 2024