The Only Way Is Up: Belgian Games Industry Market Data 2022

The Belgian games industry experienced significant growth throughout 2021, solidifying its position as an emerging contributor to the national labor market. The sector expanded to 110 active companies, a substantial increase from the 84 firms recorded in 2020. This growth was accompanied by an 8% rise in total annual turnover, reaching €88 million, and a 13% increase in full-time equivalent employment, which grew from 825 to 935 positions.

Geographically, the industry remains concentrated in Flanders, which hosts 69% of all Belgian game companies, with East Flanders serving as the primary hub. However, Brussels demonstrated the most vigorous expansion, recording a 70% increase in the number of local studios. Despite this upward trajectory, the industry maintains a fragile structure, characterized by a high volume of small-scale operations; 84% of all companies employ ten or fewer staff members.

The market is primarily driven by the development of entertainment-focused titles, with PC identified as the most profitable platform for local studios. While the sector shows signs of long-term stability—with over half of the companies having operated for more than five years—the prevalence of startups and one-person entities highlights a fertile but nascent ecosystem. Industry stakeholders maintain a positive outlook for future development, bolstered by expectations of continued growth and the anticipated expansion of tax shelter incentives.