The Impact of Video Games on Economic Growth

Video Games on Economic Growth

As video games become more and more popular, an increasing number of people are starting to spend a lot more time to create sdsgc teams to play video games. This leads to the question: how exactly does the video game industry impact economic growth?

In 2019 alone, it was reported that there’s a total of 2.5 billion gamers all around the world. According to statistics, it was estimated that these gamers spent a total of $152.1 billion on games just that year. Such a massive figure only means that they have greatly contributed toward various economies around the world.

Such statistics aren’t limited to games played on PC alone. In fact, even simple mobile games like Seven Deadly Sins: Grand Cross and other similar games have their own following of players who regularly spend money on various in-game stuff.

Countries with the Highest Growth in the Gaming Market

The US and China were reported as the leading countries when it comes to growth in the gaming industry.

In the US, an estimated 211.2 million people play games on at least a single type of device back in 2018. To have an idea as to how massive that number is, these 211 million people represent 70% of the entire US population. Out of all those gamers, 72% are age 18 years old and above. Moreover, 31% of the US’ gaming population were women.

Meanwhile, in 2019, the US has generated a whopping $36.9 billion in revenue in gaming alone. This massive revenue was the one that supported more than 1.8 million jobs throughout the US. Additionally, the gaming industry has contributed a total of $10.7 billion to taxes which simply means that it has made a really large contribution to the nation’s economy.

In China, there are an estimated 620 million gamers back in 2018 who spent more than $38 billion on gaming. This translates to $138 billion in revenue from the gaming industry alone. Out of all the countries around the world, China has the highest growth in the gaming revenue with a record of $35.8 billion growth.

Apart from the US and China, there’s also the UK which has experienced massive growth in gaming revenue these past few years. Back in 2018, the UK was estimated to have around 2.2 to 2.6 billion people in its gaming population. Meanwhile, they have received a revenue of $137.9 billion from the gaming industry within the same year.

According to the growth rate, this massive revenue could go up to $43 billion by 2021. This simply means that the gaming industry is a key player in the UK’s economy.

What It Actually Means

Needless to say, the gaming industry is one of the fastest-growing industries out there. This simply means that investment opportunities can be endless. Since more and more people are expected to turn to video games as their form of entertainment and leisure, this also means that more and more people will spend more on gaming. As a result, a nation’s economy will end up growing at a faster rate.

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