The sky is not the limit – outpacing the rest of the global gaming sector
The Finnish gaming industry has grown faster than the global gaming market with a compound average growth rate of 45% during 2004–2015. Industry revenues have been the world’s highest in relation to population. Globally, mobile games generated turnover of around 35 billion euros in 2016. The share of Finnish mobile game development was roughly 7% of the revenue generated.
In 2016, the Finnish gaming industry set a record-high turnover of 2.5 billion euros. The annual turnover growth rate was 4% from 2015 to 2016. The number of people employed in the gaming industry has been growing steadily and companies have positive expectations. About 20% of people employed in the gaming industry in Finland are foreigners.
Key factors behind the growth in Finland include a vibrant and robust gaming community, a globally connected hub of game developers that has arisen in the country, and the technologically creative brains behind it. New gaming technologies and platforms increase the rate of growth. Over 20 universities offer gaming educational programs attracting students from countries such as Germany, Japan, and Russia. We could also throw in the Finnish interest in hardcore coding and a sense of fun and playfulness.
Helsinki - globally recognized startup hub
Game industry specialists have ranked Finland among the very best cities for game production among European countries (see Game Developers Conference (GDC) Europe annual State of the Industry report).
Finland is home to such industry big hitters as Supercell and Rovio. In addition, Helsinki continually attracts foreign studios that have increasingly decided to join our gaming cluster. A few recent examples include Wargaming, Zynga, and JetDogs, who all have expanded their operations to Finland with the aim of expanding into the larger European market.
From 2013 to 2015, the Finnish gaming industry attracted 1.3 billion euros in foreign investments. This figure is not included in the industry’s overall turnover. In 2016, Tencent acquired 84% of the gaming company Supercell. The value of the total acquisition was a staggering 8 billion euros.
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