The European video‑game market posted a combined revenue of €24 billion in the 2024 fiscal year, a figure that reflects the collective output of more than 6,600 development studios and a labour force that now numbers over 95,000 individuals across the region. These statistics come from the European Video Game Industry Insights Report, a joint publication by the European Games Development Federation (EGDF) and Video Games Europe (VGA), which aggregates data supplied by the 28 EGDF member organisations. The report is based on information gathered throughout 2024, although the actual compilation process extends into the following year.
Each national association first prepares its own detailed dataset, which is then merged into a pan‑European overview. This methodology ensures that country‑specific nuances are captured while still providing a coherent picture of the continent‑wide landscape. One of the most striking takeaways from the 2024 edition is the divergence between two key indicators: while the overall pool of talent – measured by the net increase in employed professionals – showed signs of stagnation, the total number of active studios continued to rise, expanding by somewhere between five and ten percent compared with the previous year.
This suggests that new, often smaller, enterprises are entering the market even as larger firms face headwinds that limit hiring. Specific nations illustrate the mixed picture. Finland, Italy and the Czech Republic each recorded modest but positive growth in their employment figures, indicating that local ecosystems remain healthy enough to sustain incremental hiring.
Poland, however, stands out as the clear leader in terms of sheer headcount. The country not only employed the highest number of game‑development and publishing staff across the EU, but it also launched the greatest number of new titles – 450 releases during the reporting period. The United Kingdom followed with a sizable workforce of 28,516 professionals, underscoring its continued relevance as a major hub for both development and publishing activities. The 2024 report also marked the first appearance of two smaller markets: Bulgaria and Cyprus.
Cyprus, despite its relatively limited size, generated €4.3 billion in turnover, a sum that positioned the island as the principal revenue‑driving hub within its regional cluster. Analysts described Cyprus as the "main game industry hub in terms of combined revenue," highlighting its outsized economic contribution relative to its population. Bulgaria, on the other hand, earned recognition as an "important regional hub surrounded by key European game industry talent" – a nod to its strategic location near Romania and Türkiye, and its role as a conduit for talent and investment flowing through the Balkans. The EGDF’s commentary on the findings emphasizes a nuanced reality.
On the one hand, the data confirms that several countries managed to push both revenue and studio counts upward, demonstrating resilience in the face of broader economic uncertainty. On the other hand, the report also flags a series of adverse trends that have begun to surface.
Layoffs, corporate consolidations and a general decline in employment levels have led to a plateau – and in a few cases, a slight contraction – of the sector’s workforce. This represents the first documented dip in employment for the European gaming industry, a warning sign that the sector’s expansion may be reaching a natural limit in certain markets. To put these figures into context, it is helpful to consider the broader dynamics shaping the industry.
The rise in studio numbers can be attributed to several factors: the relative accessibility of digital distribution platforms, the proliferation of indie‑friendly funding mechanisms, and the growing appeal of remote work that allows small teams to operate across borders. At the same time, the stagnation of talent growth reflects a tightening labour market where skilled programmers, artists and designers are in high demand not only from game studios but also from adjacent sectors such as fintech, virtual reality and artificial intelligence. Consequently, many companies find it increasingly difficult to attract and retain the specialised staff they need to scale up. Looking ahead, stakeholders are likely to focus on three strategic areas.
First, investment in education and up‑skilling programmes will be crucial to replenish the talent pipeline and mitigate the risk of further employment declines. Second, policy makers may need to consider incentives that encourage studio formation while also supporting the sustainability of existing firms, perhaps through tax breaks or grant schemes aimed at research and development. Third, the industry will probably continue to explore cross‑border collaborations, leveraging the diverse strengths of each national ecosystem – for example, combining Poland’s production capacity with Cyprus’s revenue‑generating expertise. In summary, the 2024 European Video Game Industry Insights Report paints a picture of a sector that remains financially robust, with €24 billion in turnover and a workforce approaching the 100,000‑person mark.
Yet the same data also reveals early signs of strain: while new studios are sprouting, the overall talent base is no longer expanding at the same pace, and some markets are experiencing their first employment downturns. The challenge for the coming years will be to balance the enthusiasm for studio creation with the need to nurture and retain the skilled professionals who drive the industry’s creative engine.