video games ecosystem report: Cyprus 2025

CYPRUS 2025
MEDIA

GROUP
Video Games
Ecosystem Report

Back in 2023, the revenue of the Cyprus

market amounted to just over $1.2 billion.

However, it is expected that by 2025, the

revenue will reach the mark of $6.7 billion.

It is
also driven by the fact that many
companies
have chosen Cyprus as their new
home for
operational activities. This
significant increase
indicates the potential
for growth and
development of the market
in the coming
years.

Revenue is expected to exhibit an annual

growth rate (CAGR 2025-2030) of 5.96%.
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GROUP0%2%5%7%10%6,720257,120267,5220277,9720288,4420298,942030 Market Size & Growth

Over time, Cyprus has become an increasingly attractive IT hub, with
various tech companies
setting up shop on the island. This trend has
not been an exception for the game industry, as
more and more
companies are choosing Cyprus as their base of operations.

In July 2025, there were about 282 startups alone. Of these, 39 have
received funding, 15 have
secured Series A or later
investment rounds,
and one has achieved unicorn status.

Today, there are already over 600 companies of various sizes and types
based in Cyprus, taking
advantage of the island’s favorable business
environment, skilled workforce, and strategic
location. The Cypriot
government has also been actively supporting the development of the
IT
sector, providing incentives and creating a favorable regulatory
framework for tech companies to
thrive.
MEDIA

GROUP Ecosystem & Landscape

Success Stories & Investment
Ludus: Merge Arena

This real‑time strategy RPG from
Cyprus‑based

Top App Games surpassed 3 million
downloads and generates over $2
million in monthly
revenue.

A $10
million funding round led by
Utmost Games in 2025 aims to
accelerate
growth .

The game
is on track to reach $3
million monthly revenue,
demonstrating
how Cypriot studios
can
achieve global scale.
MY.Games and Playrix

These internationally known mobile
publishers have established major

operations in Cyprus.

Their presence has attracted talent
and fostered local expertise,

particularly in free‑to‑play casual
and puzzle genres.
Wargaming

Although headquartered in Cyprus
for strategic reasons, Wargaming
continues
to
develop PC and
cross‑platform MMOs such as World
of Tanks.

Its presence ensures that PC

gaming remains part of the local
ecosystem.
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GROUP

Cyprus’ gaming industry is dominated by the mobile segment.
Companies like Playrix, Nexters
(GDEV),
Easybrain and Outfit7
specialize in casual and puzzle games for smartphones. Top App

Games and
other young studios are generating millions of downloads
and significant monthly
revenue. The
presence of seven of the world’s
top 100 mobile game publishers by downloads
underscores Cyprus’
influence in
mobile publishing.

However, the PC and console segment is also represented. Wargaming
(World of Tanks) and
Digital Vortex Entertainment publish buy‑to‑play
PC and console titles, and several local studios
develop PC games or
cross‑platform projects. Cross‑platform strategies—such as launching
PC
versions of mobile titles and leveraging cloud gaming—are
becoming more common , providing
opportunities for developers
skilled in both mobile and PC development.
MEDIA

GROUP Mobile vs PC & Trends

Drivers & Advantages
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GROUP
EU membership and strategic location

Being in the European Union grants access to
a large
market and EU funding programmes.
Cyprus’ location between Europe, Asia and
the Middle East
makes it a convenient base
for regional operations
Growing talent pool and international
community

Relocation by major publishers has brought
experienced developers and executives to
Cyprus, creating a vibrant community where
multicultural teams collaborate
Government support and ease of doing
business

Entrepreneurs report that doing business
in
Cyprus is straightforward and efficient, with
proactive government initiatives to foster
growth in the tech sector
Emerging sectors

Investment is increasing in esports,
blockchain gaming and AI‑driven
development tools, indicating that the
industry is evolving beyond casual mobile
games
Quality of life and lifestyle appeal

Cyprus’ pleasant climate, beaches and
infrastructure improve quality of life, making
it easier to attract and retain talent
Favourable tax and regulatory regime

The island provides competitive corporate tax
rates
and incentives that have attracted
companies from CIS
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The WN Conference Cyprus, scheduled for
September 11-12, 2025, offers a unique gateway

into this
flourishing ecosystem.

welcome@wn.mediawnhub.ioThis report is created with support of top tier gamedev media
MEDIA

GROUP Don’t miss it! Participation provides several benefits:
Access to a vibrant network;

Insight into a high‑growth market;

Gateway to EU and Middle‑East markets;

Expected 700+ decision-makers;

And more!