Cyprus gaming sector reaches €3.2bn as tourism arrivals fall in July
Cyprus reported growth in its gaming industry, a slight July decline in tourist arrivals and a warning to crypto users following the end of the MiCA transition.
Nicosia, Cyprus. Cyprus entered Europe’s 10 largest video game industries by revenue in 2025, with more than 400 companies generating an estimated €3.2 billion, according to the first report by the Cyprus Game Makers Association. Separately, tourist arrivals fell by 1.1 per cent in July, while crypto users were urged to verify which company holds their assets after the end of the MiCA transition.
Gaming industry
The Cyprus Game Makers Association (CYGMA) said its report was the first attempt to measure a sector that has expanded rapidly but has remained largely absent from official statistics.
According to the report, 415 game studios and related companies operated from Cyprus in 2025.
Cyprus-based publishers released 571 new mobile games, which recorded about 615 million downloads. This placed Cyprus third worldwide, behind China and Vietnam and ahead of the United States.
The mobile gaming segment generated an estimated €1.8 billion. A further 36 PC and console titles were released, selling about 1.5 million copies and generating an estimated €1.4 billion in revenue.
Tourist arrivals
A total of 582,754 tourists arrived in Cyprus in July, compared with 589,116 in July 2025, according to figures released on Tuesday by the Statistical Service, Cystat.
The 1.1 per cent annual decline was limited by a 55.8 per cent increase in arrivals from Israel, while nearly every other major market recorded weaker figures.
Despite the annual decrease, arrivals were 5.7 per cent higher than in July 2024, when Cyprus received 551,229 visitors.
For the January-to-July period, tourist arrivals totalled 2,238,769, down 8 per cent from 2,432,129 during the corresponding period of 2025. Cyprus received 193,360 fewer tourists during the first seven months of the year.
The gap continued to narrow from the end of June, when arrivals for the year were 10.1 per cent below 2025 and the monthly decline stood at 1.7 per cent.
Crypto warning
Crypto users in Cyprus have been urged to check which company holds their assets following the end of the European Union’s Markets in Crypto-Assets Regulation, known as MiCA, transition.
The end of the transition required unauthorised providers to withdraw and created a new means for fraudsters to target investors.
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