In the new issue of GOLD, presented by PwC Cyprus and coming out on Sunday, 21 June, we take a look at the booming video games sector and its growing importance in Cyprus’ tech ecosystem (click here).
Even before the invention of the smartphone, video games had started on its exponential rise to become a powerhouse sector, through the development of gaming consoles, then personal computers and eventually the latest smart technologies. Today, video games have become even more interactive, bringing together players from across the globe and, amid all this technological advancement, Cyprus has managed to overpower some major competitors and draw in companies that have received top marks globally for their creations.
Over the past decade, the video game sector has become one of the most dynamic in the island’s economy, with Cyprus-based studios generating $1.1 billion in revenue from players around the world in 2024 alone. Thanks to its competitive business environment and attractive quality of life, Cyprus has become an increasingly popular destination for international game development studios, publishers and technology professionals.
The sector’s growth has been driven primarily by foreign investment and the relocation of established gaming companies seeking access to the European market. Today, Cyprus hosts a diverse ecosystem of game developers, mobile gaming studios, support services and technology providers, with game companies currently numbering over 300. Despite its progress, the industry faces several challenges. Access to highly specialised talent remains one of the most significant constraints on growth. While local universities are increasingly producing skilled graduates in computer science and related disciplines, demand continues to outpace supply.
In this cover story, we look at the growing video game industry and how it could potentially attract more companies, through a discussion among game company representatives and Irene Piki, Deputy Minister to the President and Invest Cyprus Chairman Evgenios Evgeniou.
In addition, we speak to the heads of 11 video game companies, that have moved their operations to Cyprus.
- Elena Grigorian, CEO, MY.GAMES
- Yegor Vaikhanski, CEO and Co-Founder, SayGames
- Sergey Orlovskiy, Founder and CEO, Helio Games
- Anton Yudintsev, Founder, Gaijin Entertainment
- Ilya Karpinskiy, Co-Founder, Owlcat Games
- Oleg Grushevich, CEO and Co-founder, Easybrain
- Yury Pomortsev, CEO & Founder, Game Garden
- Leonid Zhuravskyi, CEO & Founder, Mystery Tag
- Manuel Prueter, Co-Founder & CEO Colossi Games
- Evgeniya Sedova, Founder & CFO, Mundfish
- Alexander Pavlov, Co-Founder, Playkot
Special Features:
- Mergers & Acquisitions Specialists & Consultants
- AI-Powered Business Solutions
- FMCG & Branding
Exclusive interviews & features:
- Transforming Goodwill into Concrete Action - Ana Maria Bierrenbach, Brazil’s Ambassador to Cyprus
- Powering the New Crypto Economy - Thomas Papantoniou, CEO of Coinbase Financial Services Europe
- RIF: Strengthening Research, Innovation and Entrepreneurship - RIF Director-General Theodoros Loukaidis
My Way: Andreas Papadatos
Five Minutes With: Liu Kai
Start Me Up: Artemis Intelligence
In Good Company: Intergo Telecom
You can download the magazine app on AppStore / GooglePlay /WebApp using the keywords GoldMagazine for Gold Magazine. You can also read the magazine online at the link https://www.magloft.com/app/goldmagazine#/shelf/view/default
All this and more in Issue 183 of GOLD magazine, out on Sunday, 21 June. Click here to read the digital edition.
