Europe UK (Commonwealth Union) – Video games have come a long way since their inception, evolving from simple entertainment to a powerful force that drives the global economy. With their widespread popularity and technological advancements, video games have transformed into a multi-billion-dollar industry that influences various sectors and generates substantial economic impact. The economic impact of video games is truly staggering as it is one of the fastest-growing sectors worldwide. The revenue generated from it encompasses not only game sales but also various associated industries, such as hardware, accessories, esports, streaming platforms, and mobile gaming.
A new guide that backs research while forming a greater understanding of video games was published this week in the UK.
Video games have become a significant source of job creation and employment opportunities. The industry employs millions of professionals, including game developers, designers, programmers, artists, animators, marketers, and customer support personnel. Video game companies, both large and small, contribute to local economies by providing jobs and driving innovation.
Over 50% of British adults are known to engage in video games and is one of the fastest-growing creative industries in the UK bringing £2.8 billion to the economy and providing jobs to 27,000 individuals in 2019 according to government reports.
The Video Games Research Framework, formed at the Department for Culture, Media and Sport joining hands with academia, research councils as well as the games industry, hopes to provide its backing to researchers to form a stronger evidence base for policymaking in the years ahead.
Minister for the Creative Industries, John Whittingdale, says “Video games are a booming industry – employing thousands of people and contributing billions to our economy, whilst bringing enjoyment to people in fun and challenging ways.”
“Today’s plans will encourage more research and study in this area so we can better support the opportunities of this highly innovative sector while also protecting players.”
