The European video‑game market posted a combined revenue of €24 billion in the 2024 fiscal year, supported by more than 6,600 development studios and a labour force that now exceeds 95,000 individuals. These figures come from the latest European Video Game Industry Insights Report, a joint publication by the European Games Development Association (EGDF) and Video Games Europe (VGA).
The report, which reflects data compiled for 2024, is the product of a two‑stage process: each of the 28 EGDF member organisations first prepares a national‑level analysis, after which the individual submissions are merged to create a comprehensive European overview. While the overall pool of talent showed signs of stagnation—meaning that the rate of new hires and the expansion of the skilled workforce slowed compared with previous years—the sector nevertheless managed to increase the number of active studios. According to the data, the studio count rose somewhere between five and ten percent during 2024, indicating that new companies are still entering the market even as existing firms face tighter hiring conditions.
This modest but steady growth was evident in several key markets. Finland, for instance, continued to add a handful of new development houses, while Italy and the Czech Republic also reported incremental increases in both studio numbers and employee head‑counts. Poland emerged as the clear leader in terms of employment, employing the highest number of professionals in game development and publishing across the entire European Union. The country also topped the list for new title releases, with 450 fresh games launched during the reporting period.
The United Kingdom, another major hub, recorded a workforce of 28,516 people working in the gaming sector, underscoring its continued relevance as a creative and commercial engine within the broader European ecosystem. The 2024 edition of the report marked the first time that two smaller economies—Bulgaria and Cyprus—were included in the analysis. Cyprus, despite its relatively modest size, generated €4.3 billion in turnover, a figure that positioned it as the leading revenue‑generating hub among the newly added markets.
The report described Cyprus as the "main game industry hub in terms of combined revenue," highlighting its outsized impact relative to its population. Bulgaria, meanwhile, was praised as an "important regional hub surrounded by key European game industry talent" and was noted for its strategic location near talent pools in Romania and Turkey, which helps it attract both investment and skilled workers. The EGDF commented that the data illustrate a paradoxical situation: even in the face of challenging macro‑economic conditions, several countries managed to grow both their revenue streams and the number of operational studios, thereby lifting the aggregate European indicators. However, the association also warned that the sector is not immune to downsizing pressures.
Layoffs, corporate consolidations, and a slight decline in employment were observed in a handful of nations, representing the first measurable dip in employment levels since systematic tracking began. This downturn was described as a "small decrease in employment – the first such dip in the sector for the first time," signalling that while the overall market remains robust, individual markets may experience volatility. Looking ahead, industry stakeholders are focusing on several strategic priorities to sustain growth. Investment in education and training programs is being emphasized to replenish the talent pipeline that has begun to plateau.
Governments across the EU are also reviewing fiscal incentives, such as tax credits and grant schemes, to encourage both domestic start‑ups and foreign investors to establish or expand studios within their borders. Moreover, the rise of emerging technologies—cloud gaming, virtual reality, and AI‑driven content creation—offers new avenues for revenue diversification and could help offset the stagnation in traditional employment metrics.
In summary, the 2024 European games industry report paints a picture of a sector that, despite facing headwinds in talent acquisition, continues to expand its studio base and generate substantial economic output. With Poland leading in workforce size, the UK maintaining a strong presence, and newer hubs like Cyprus and Bulgaria gaining recognition, the continent’s gaming landscape remains dynamic. The challenge moving forward will be to balance the need for continued studio growth with strategies that address employment stability, ensuring that Europe retains its competitive edge in the global gaming arena.