CYGMA event boosts Cyprus’ position on global gaming map

The Cyprus Game Makers Association (CYGMA) hosted a key industry gathering on March 24, 2026 at Warehouse, Limassol, bringing together leading voices from across the island’s rapidly expanding game development sector.

Positioned as both a briefing and a platform for connection, the event welcomed game development studios, publishers, investment funds and a broad network of supporting professionals from the broader ecosystem, including legal advisors, financial institutions, talent and contract management specialists and education providers.

The evening opened with a keynote address by Andrey Ivashentsev, General Manager of CYGMA, offering insight into the scale and trajectory of the gaming industry in Cyprus. With more than 300 studios currently active, the sector is projected to reach $1.6 billion in revenue by 2025, maintaining steady growth of approximately 4.5 per cent, year-on-year.

“Cyprus has reached a point where the scale of the gaming industry can no longer develop in isolation,” said Ivashentsev. “What’s needed now is structure, stronger connections, clearer access to support services and a shared voice that represents the industry as a whole. This event is about bringing those pieces together and setting the foundation for what comes next.”

Beyond presenting key data, the event aims to strengthen connections between studios and the ecosystem partners that support their development. Through CYGMA membership, studios gain improved access to these services, often under preferential terms, reinforcing the association’s role as the voice of game development in Cyprus.

An open AMA session followed the keynote, encouraging direct dialogue between stakeholders, before a roundtable discussion brought together representatives from CYGMA and its partners, including Unlimit, Mellow, Xsolla and Chrysostomides.

Titled “Game Development in Cyprus: Partner Perspectives”, the roundtable explored the factors driving Cyprus’s emergence as a game development hub, the evolution of the local market, investment activity in the region and the opportunities and challenges shaping its future.

The discussion was moderated by Jane Artemova, Head of Business Development at CYGMA, and featured George Mountis, Co-Managing Partner at Chrysostomides Advocates & Legal Consultants; Roman Polyak, CBDO at Xsolla; Alex Norovyatkin, Head of Brand & Growth at Mellow and Sergejs Dupleca, Head of Business Growth & Partnerships at Unlimit.

Looking ahead, CYGMA outlined a series of strategic priorities for 2026, reflecting its ambition to further structure and elevate the industry. These include reaching a 50-member base, joining key European bodies such as Video Games Europe and the European Game Development Federation, initiating a dedicated Game Development bachelor programme at Cyprus University, publishing the Cyprus GameDev Report for 2025 and establishing the country’s first international presence under the banner “Games from Cyprus”’ with plans to participate in Gamescom 2026.

As CYGMA continues to establish itself as the collective voice of the sector, this gathering marks an important step in aligning industry players and reinforcing Cyprus’ position within the global gaming landscape.