For decades, Greece’s investment story revolved around shipping, tourism and real estate. Now, a different industry is beginning to attract attention: video games.
As the global gaming market continues its rapid expansion, Greece is positioning itself to capture a share of an industry that has become one of the fastest-growing segments of the digital economy. While the country’s gaming sector remains small by international standards, rising consumer demand, a growing network of development studios and a pool of highly skilled technical talent are creating new opportunities for investors.
The numbers help explain the optimism. According to research by Greece’s Foundation for Economic and Industrial Research (IOBE), global consumer spending on digital games reached $177.8 billion in 2024, up 31.3% from 2018. Europe’s gaming market expanded by 27.6% over the same period, reaching €26.8 billion.
Greece has followed the broader trend. The number of video-game users in the country increased by more than 27% between 2017 and 2024, approaching two million people. Meanwhile, the domestic development ecosystem is slowly taking shape. By 2023, Greece was home to 18 game-development studios, while employment in the sector nearly tripled within two years, rising from 32 workers in 2021 to 90 in 2023.
The industry’s appeal extends beyond consumer spending. IOBE estimates that every euro generated by the production of a digital game contributes €2.71 in total economic activity, highlighting the sector’s significant multiplier effect. Such figures have begun attracting investor interest, including from prominent Greek business families.
Couch Heroes, an investment vehicle linked to businessman Vardis I. Vardinogiannis, has made strategic investments in both Greek and international gaming ventures, reflecting growing confidence in the sector’s long-term potential.
The opportunity comes as the global gaming industry undergoes a broader transformation. For years, the market was dominated by American and Japanese giants. Today, a new generation of companies from China, Singapore, Finland and Israel is reshaping the competitive landscape, leveraging local successes into global franchises.
Recent industry rankings illustrate the shift. According to Sensor Tower data, U.S.-based Scopely topped the global mobile-gaming publisher rankings in 2025 with $3.3 billion in revenue generated by Monopoly Go!. China’s Tencent followed closely with $3.2 billion from Honor of Kings, while Century Games generated $3 billion through Whiteout Survival. Singapore-based FUNFLY emerged as one of the industry’s fastest-growing companies, with Last War: Survival producing $2.4 billion in revenue.
The changing geography of gaming reflects a deeper shift in how games are designed. Rather than pursuing a single product for a global audience, developers increasingly tailor games to regional preferences, languages and technological realities. Garena’s Free Fire offers a striking example. The title became one of the most popular games across parts of Asia and Latin America by optimizing performance for lower-end smartphones and incorporating cultural elements that resonated with local players.
Market data suggests that this localization strategy is becoming increasingly important. Across the world’s five largest gaming markets—the U.S., China, Japan, the U.K. and South Korea—not a single mobile game ranked among the top ten titles in all five countries. Instead, the combined rankings featured 34 different games, underscoring the fragmentation of global demand and the growing importance of regional tastes.
That trend may ultimately work in Greece’s favor. Unlike industries where scale alone determines success, gaming increasingly rewards creativity, specialized talent and an understanding of niche audiences. As barriers to entry fall and digital distribution expands, smaller countries have more opportunities to compete.
