New report - Video Games Make Up 4.1% of Sweden's Service Exports
Today sees the release of the Game Developer Index 2022, the annual industry report that maps and analyses the Swedish games industry as well as international industry trends.
The video game industry has grown by 1,348 employees to a total of 7,944 employees in Sweden, an increase of 20%. For the first time ever, Swedish game companies have a higher turnover through their foreign subsidiaries than in the domestic industry. In 2021, Swedish companies' sales from foreign subsidiaries amounted to SEK 31.4 billion compared to sales of SEK 27.5 billion in Sweden. These numbers also mean that Swedish-developed video games now account for 4.1% of Sweden’s total service exports.
"The Swedish industry had a new record year, and is distinguished by the fact that several Swedish games groups have expanded on to the global market while growth continues at home", says Johanna Nylander, Head of Policy & Analytics at the Swedish Games Industry. She continues: "Skills supply remains a major challenge and we are dependent on talented game developers moving to Sweden to create games. My hope is that we can continue to have good conditions for creating video games in this country."
A summary of the report can be found below.
Link to the full report: Game Developer Index 2022.
Contact: Johanna Nylander, Head of Policy & Analytics, Swedish Games Industry.
SUMMARY OF THE REPORT:
Swedish game development is an export industry that operates in a largely global market. The games industry has grown over a few decades from a hobby for enthusiasts to a worldwide industry with cultural and economic significance. The Game Developer Index 2022 compiles the Swedish companies most recently reported financial year (2021). The report in brief:
- The Swedish games industry’s turnover grew to EUR 2.7 billion in 2021, which is an increase of 28% for the Swedish-registered companies. Including the non-Swedish subsidiaries, the industry had a turnover of EUR 5.8 billion, an increase of 75%.
- A total of 1,755 positions at games companies in the country are held by women, this corresponds to a share of just over 22%.
- Swedish game companies are growing, employing 7,944 people on site in Sweden and 11,158 people abroad. The difficulty of recruiting staff in Sweden persists and an increasing part of Swedish companies’ expansion consists of establishing or acquiring development studios abroad. In Sweden, the number of employees increased by 1,348 people, an increase of 20%.
- 93 companies started in 2021, these together with 25 newly added older companies that changed operations to game development, resulting in 785 active companies in December 2021, an increase of 18% compared to 2020.
- In 2021, 81 investments and acquisitions were reported, five of which had a business value above the 100 million EUR mark. In 77 of the cases, Swedish companies were buyers and in 31 of the transactions, Swedish companies were sellers.
- The ten most profitable companies together paid over EUR 120 million in corporate tax on their profits.
- The ten largest employers have paid a total of almost EUR 200 million in payroll taxes.
- 21 Swedish companies are listed on the stock exchange in Sweden. Together, they had sales of EUR 3.6 billion in 2021.