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Swedish games developers generated €1.4bn in 2016

Number of studios in the region rises to 287, with nearly 10% of all games firms working on virtual reality

A new report has shown the continued growth of the games industry in Sweden, with revenues improving 1,000% over than last seven years.

Local trade body Swedish Games Industry has released the 2017 edition of its Swedish Game Developer Index, which reveals that the combined turnover of studios in the region was €1.4bn in 2016. This is the eighth consecutive year in which the industry has turned a profit.

25% of this revenue is being generated by small to medium-sized companies, with almost half the industry's employees found at these firms. The report also claims the majority of companies based in Sweden are profitable.

The Index also reports that the number of start-ups has continued to grow in Sweden, pushing the total number of developers up to 287.

Many of the nation's games developers are listed on the NASDAQ stock exchange, with more added throughout 2016. There was a 171.1% increase in the number of games firms listed over the course of 12 months - well over the 14.8% average seen across all other sectors.

Nearly 10% of these studios are working on virtual reality projects, but the nation's reach goes well beyond this growing technology. The Index claims that 1 in 10 gamers around the world have played a title developed in Sweden, citing Minecraft, Battlefield, Candy Crush Saga, Star Wars Battlefront, Tom Clancy's The Division and Payday 2 as high-profile examples.

You can find more information about the report here. An English version will be released "in the coming weeks."

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