In 2024 the European video‑game market demonstrated remarkable economic strength, posting a collective turnover of roughly €24 billion. This figure reflects the combined revenues of more than 6,600 development studios operating across the region, which together employed in excess of 95,000 individuals.
The data originates from the European Video Game Industry Insights Report, a joint publication by the European Games Development Association (EGDF) and Video Games Europe (VGA). Because the report follows a rigorous compilation schedule, it presents a snapshot of the previous year’s activity rather than real‑time numbers.
Each of the 28 EGDF member organisations first prepares a national‑level analysis; these individual submissions are then merged to create a comprehensive European overview. One of the most striking take‑aways from the study is the divergence between two key indicators: the size of the talent base and the number of active studios.
While the overall pool of skilled workers in the sector showed signs of stagnation—some markets even recorded a modest decline in employment—the count of game‑development companies continued to expand. Between five and ten percent more studios were operating in 2024 than the year before, suggesting that new ventures are still being launched despite a tighter labour market. The report highlights several countries where modest but steady growth was observed. Finland, Italy and the Czech Republic each reported incremental increases in their employment figures, indicating that local ecosystems remain resilient.
Poland emerged as the clear leader in terms of workforce size, boasting the largest number of professionals employed in both development and publishing across the EU. Polish studios also topped the chart for new releases, delivering 450 fresh titles during the year.
The United Kingdom, another major hub, counted 28,516 people working in the industry, underscoring its continued relevance on the European stage. Two nations made their debut in the 2024 edition of the report: Bulgaria and Cyprus. Cyprus, despite its relatively small population, generated an impressive €4.3 billion in turnover, earning the description of the "main game‑industry hub in terms of combined revenue" within the study. Bulgaria, meanwhile, was recognised as an "important regional hub surrounded by key European game‑industry talent"—a nod to its strategic location between Romania and Türkiye, both of which contribute significant expertise and human capital to the surrounding market.
The EGDF used the findings to illustrate a nuanced picture of the sector’s health. On the one hand, the data confirms that, even in challenging economic conditions, several countries managed to push both revenue and studio numbers upward, thereby lifting the overall European averages. On the other hand, the report also documents a wave of layoffs, corporate consolidations and a measurable dip in employment in a handful of markets.
This marks the first time the European gaming sector has experienced an outright decline in headcount, a development that the EGDF described as "the first such dip in the sector for the first time." To put these numbers into perspective, consider the broader context of the global gaming industry. Worldwide, the market is valued at well over $200 billion, with Europe accounting for roughly a tenth of that total. The €24 billion generated in 2024 therefore represents a substantial contribution, especially when one factors in the relatively modest size of the European talent pool compared with North America or Asia.
The increase in studio count suggests that entrepreneurs are finding niche opportunities—whether in mobile, indie, or emerging technologies such as virtual reality—to launch new ventures despite a competitive hiring environment. Several forces are likely driving the observed trends. First, the maturation of digital distribution platforms has lowered entry barriers, enabling smaller teams to reach global audiences without the need for large publishing contracts. Second, government incentives and tax credits in countries like France, Ireland and the Netherlands continue to attract foreign investment, which can translate into new studio formations even if local hiring slows.
Third, the rise of remote work has allowed developers to collaborate across borders, meaning that a studio may be registered in one country while its staff are dispersed throughout the continent. Nevertheless, the stagnation in employment signals potential challenges ahead.
A constrained talent pipeline could hamper the ability of studios to scale up, especially as the industry moves toward more complex, high‑budget projects that require specialised skills in areas such as artificial intelligence, cloud gaming and live‑ops services. To address this, many national associations are launching training programmes, apprenticeships and university partnerships aimed at replenishing the workforce.
In summary, the 2024 European Video Game Industry Insights Report paints a picture of a sector that remains financially robust—delivering €24 billion in revenue and supporting nearly 100,000 jobs—while simultaneously grappling with a tightening labour market. The rise in studio numbers demonstrates entrepreneurial vigor and the continued attractiveness of Europe as a development hub, but the first recorded dip in employment underscores the need for sustained investment in talent development and retention strategies.
The coming years will likely see policymakers, industry bodies and studios working together to ensure that the growth in revenue and studio formation can be matched by a healthy, expanding workforce.