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Serbian Gaming Industry Increased both Revenues and the Number of Employees

Apr 19, 2024

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The Serbian gaming industry has managed to maintain stability and increase revenue and employment numbers, despite the challenges brought by the year 2023, according to the research done by the Serbian Gaming Association (SGA). The annual report shows that the 15 most successful gaming companies had a revenue of 175 million euros in 2023, with 57 percent of companies developing original products. Furthermore, games produced in Serbia were bought or downloaded more than one hundred million times.

The significant growth in the number of employees is the most notable change from the previous year, with an increase of 98 percent, leading to an estimation of 4,300 gaming professionals working in Serbia. This growth is attributed to the large number of gaming professionals and their families who moved to Serbia from Russia, Ukraine, and Belarus, along with leading global companies such as Wargaming, Playrix, and Sperasoft, having their largest representative offices in Serbia. This influx of knowledge and experience is expected to significantly affect the domestic gaming industry.

Another interesting fact is that 475 new positions are planned to be opened this year, and 28 percent of employees in the industry are women.

Despite the obstacles of lack of financial opportunities, high taxes, and complex bureaucratic procedures, most companies and studios continue to find success through direct sales. This testifies to the fact that video games created in Serbia are successful enough to ensure the independence of studios, expansion of teams, and work on new projects, which continues to prove that gaming is one of the promising sectors of the domestic innovation ecosystem.

The report aims to showcase the current state of the ecosystem to all relevant players in the gaming industry, stakeholders, decision-makers, and the general public while highlighting its enormous potential. From 2017 until today, the domestic gaming industry has recorded continuous growth and development, which is especially significant considering the global instability in many industries, including gaming, in 2023. Serbia remains an exception when it comes to major shutdowns of studios or projects.

The report was presented by Mihailo Vesovic, director of Sector for strategic analysis, services and Internationalization of the Chamber of Commerce and Industry of Serbia, executive manager of the Serbian Gaming Association, Kristina Janković Obućina and  Mihajlo Jovanović-Džaril, CEO of Serbian Gaming Association.

Download Full Report

Serbian-Gaming-Industry-Report-for-2023-by-SGA.pdf

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