Cyprus Joins Europe’s Top Ten Video Game Industries
Cyprus has made a significant leap, finding a spot among Europe’s ten largest video game markets. With over 400 companies operating on the island, the gaming industry is expected to generate around €3.2 billion by 2025.
These findings come from a new report by the Cyprus Game Makers Association (CYGMA), which aims to shed light on an industry that has rapidly grown but has often been overlooked in official statistics.
According to the report, there were 415 game studios and related businesses in Cyprus last year. These local publishers launched 571 new mobile games, which garnered an impressive 615 million downloads, ranking Cyprus third in the world, just behind China and Vietnam, and ahead of the United States.
In terms of revenue, the mobile gaming segment alone is anticipated to yield approximately €1.8 billion. Additionally, 36 new titles for PC and consoles were released, achieving around 1.5 million sales, contributing an estimated €1.4 billion to the overall industry earnings.
Tourism in Cyprus Experiences Slight Decline
Tourist arrivals in Cyprus saw a small dip of 1.1% in July, though a notable increase of 55.8% in visitors from Israel helped keep the overall decline minimal. A total of 582,754 tourists visited Cyprus in July, compared to 589,116 during the same month in 2025. However, this was a 5.7% increase from the 551,229 visitors recorded in July 2024.
From January to July, the total number of arrivals stood at 2,238,769, reflecting an 8% decrease compared to 2,432,129 in the same period last year, accounting for 193,360 fewer tourists. Despite the drop, the gap is closing; by the end of June, arrivals were still down 10.1% compared to 2025, but the month-to-month decline was only 1.7%.
Cypriots Advised to Check Crypto Holdings Following Regulatory Changes
Cyprus is urging its crypto users to verify which companies hold their assets following the end of the EU’s Markets in Crypto-Assets Regulation (MiCA) transition. This shift has led unauthorized providers to exit the market and created opportunities for fraudsters targeting unsuspecting investors.
As of July 1, 2026, only companies approved under MiCA can operate crypto-asset services in Cyprus. While MiCA rules started applying from December 30, 2024, Cyprus allowed existing businesses to operate temporarily under prior regulations until the deadline, which has now passed.
Innovative Retail Experiences Catching On in Cyprus
Cyprus has adopted various innovative retail strategies, such as mystery boxes and live shopping platforms, blending shopping with entertainment. At the Mall of Cyprus, one lucky customer, Ivan, won a new electric Renault 5 car, thanks to a mystery box promo by retailer POW! The Shop. The promotion featured hidden golden Renault replicas in mystery boxes, and finding one secured a spot in the final drawing. Ivan found the twelfth replica and claimed the car.
While most boxes contained standard merchandise, a few lucky customers received incredible prizes.
Public Awareness of Digital Euro Remains Low in Cyprus
A recent survey reveals that many people in Cyprus have limited knowledge of the digital euro, with less than four in ten showing readiness to use it. Concerns over transaction monitoring and the future of cash transactions are prevalent.
According to Maria Kontou from the Central Bank of Cyprus, 61% of participants in the survey reported they knew nothing about the digital euro, while only 1% felt fully informed. As digital payments have surged in recent years, both globally and within Cyprus, the European Central Bank is working on a digital version of the euro that will be available for people to use, even without internet access.
DP World Limassol Hosts Internship Program for Students
DP World Limassol recently wrapped up its annual two-month internship program, which provided four undergraduate students with practical experience in port operations and the maritime industry. Now in its sixth year, the program is designed for students studying maritime and related fields.
This year, the interns included Elpida Markou and Styliana Efstathiou from the Cyprus University of Technology, along with Agathoklis Antoniou and Charis Nikolaou from Frederick University. Throughout their time, the students gained valuable insights into modern port operations, enriching their technical skills and understanding of the sector.
EU Services Production Experiences Growth in May
Recent data from Eurostat shows that services production in the euro area and the European Union rose by 0.8% in May compared to the previous month. This positive growth follows an increase of 0.7% in April for the euro area and 0.3% for the EU overall.
On a yearly basis, services production grew by 2.4% in both the euro area and the EU compared to May 2025. In May, the real estate sector was a major contributor to this growth, with a 2.1% increase from the previous month. Additionally, the professional, scientific, and technical activities sector also saw a growth of 1.0% during the same timeframe.
