In 2024 the European video‑game industry posted a total turnover of roughly €24 billion, supported by more than 6,600 development studios that together employed over 95,000 individuals. These figures come from the European Video Game Industry Insights Report, a joint publication by the European Games Development Association (EGDF) and Video Games Europe (VGA).
The report, which aggregates data from the 28 EGDF member organisations, reflects the state of the market for the calendar year 2024, a lag caused by the time needed to collect, verify and harmonise national statistics. The methodology behind the report is worth noting. Each EGDF member first prepares a detailed national snapshot, covering revenue, studio counts, employment numbers and other key performance indicators.
After the individual submissions are vetted, they are merged into a single European overview that allows for cross‑country comparisons and trend analysis. This collaborative approach ensures that the final numbers are both comprehensive and comparable across borders.
One of the most striking observations in the 2024 edition is the divergence between talent growth and studio proliferation. While the overall talent base – measured by the number of people actively working in game development and publishing – showed signs of stagnation, the number of operational studios continued to climb, rising somewhere between 5 % and 10 % over the previous year. This suggests that new, often smaller, companies are entering the market even as the pool of available skilled workers is not expanding at the same pace. The phenomenon may be driven by a combination of factors, including increased access to funding, the rise of remote‑work models, and the growing popularity of indie‑focused platforms that lower entry barriers for new developers.
Country‑specific data adds further nuance to the picture. Poland remains the EU’s powerhouse in terms of employment, employing the largest number of game‑industry professionals across the continent.
Polish studios also led the region in output, releasing a record 450 new titles during the year. The United Kingdom, another major hub, reported a workforce of 28,516 individuals, underscoring its continued relevance despite the uncertainties surrounding Brexit and related regulatory changes. Southern and Central European nations displayed modest yet steady growth. Finland, Italy and the Czech Republic each reported incremental increases in their employment figures, indicating that these markets are still attracting talent and expanding their development ecosystems.
Meanwhile, the report marked the first inclusion of Bulgaria and Cyprus in the European dataset, highlighting the expanding geographic footprint of the industry. Cyprus, despite its relatively small size, generated €4.3 billion in turnover, earning the description of the "main game industry hub in terms of combined revenue" within the report. This impressive figure reflects the island’s strategic positioning as a tax‑friendly environment and its investment in high‑quality talent pipelines.
Bulgaria, on the other hand, was praised as an "important regional hub surrounded by key European game industry talent" from neighbouring Romania and Türkiye, indicating that it serves as a connective node for talent and production services in the Balkans. The EGDF’s commentary on the findings paints a balanced picture. On the positive side, the association highlighted that, even amid challenging macro‑economic conditions, several countries managed to grow both their revenue streams and the number of active studios.
This dual growth helped lift the overall European indicators, suggesting resilience within the sector. Conversely, the report also flagged warning signs. Layoffs, corporate consolidations and a measurable decline in employment levels were observed in a number of markets, leading to the first overall dip in employment recorded for the European gaming sector. These setbacks were attributed to a mix of factors, including tighter financing conditions, rising production costs and the lingering effects of supply‑chain disruptions that have affected hardware availability and development timelines.
Looking ahead, analysts suggest that the industry may need to focus on talent development and retention to sustain the momentum created by the increasing number of studios. Initiatives such as university‑level game design programmes, apprenticeship schemes and cross‑border mobility incentives could help replenish the talent pool and mitigate the current stagnation. Moreover, the continued emergence of new hubs like Cyprus and Bulgaria points to a diversification of the European gaming landscape, which could foster competition, innovation and a broader distribution of economic benefits across the continent.
In summary, the 2024 European Video Game Industry Insights Report paints a picture of a sector that is financially robust, with €24 billion in turnover and a workforce nearing 100 000, yet grappling with talent‑supply constraints. The rise in studio numbers demonstrates entrepreneurial vigor, while the inclusion of new countries signals a widening of the industry’s geographic base. Stakeholders will need to address employment volatility and invest in skill development to ensure that the growth trajectory remains upward in the coming years.