The UK video games industry expects to boost investment and jobs in the coming year according to trade association TIGA which represents games developers and digital publishers.
A survey carried out by the body shows that 88 per cent of respondents plan to grow their organisation’s workforce over the next year – up from 72 per cent a year ago – while half said that the outlook for investment in their business was more optimistic than compared to 12 months ago.
More than 60% also said they expected to see profits rise over the next 12 months.
Dr Richard Wilson, TIGA CEO, said: “The UK video games development and digital publishing sector is set to grow in 2017. Our survey shows that games businesses in mobile, VR, PC and console are planning to increase investment and employment. This growth is being driven by three factors.
“Firstly, the consumer market for games is big, broad and burgeoning. The UK is the sixth largest market for games in the world and 31.6 million people in the UK play games.
“Secondly, the spread of mobile and tablet devices, the new console generation, the popularity of PC games and the advent of Virtual Reality and Augmented Reality are prompting investment in games.
“Thirdly, Video Games Tax Relief, which TIGA played a decisive role in achieving, is fanning the flame of growth. Games Tax Relief effectively reduces the cost and risk of games development and it incentivises investment and job creation in the games industry. Games Tax Relief is predicted to create 2,800 new development jobs and £331 million in investment between 2016 and 2020.”
Jason Kingsley OBE, TIGA Chairman and CEO and Creative Director at Rebellion, added: “2017 is set to be another exciting year for the UK video games industry. We will see more start-ups, more existing firms expand and more innovation and growth in the sector.
“I am especially delighted that Video Games Tax Relief, a measure that TIGA consistently campaigned for over many years, is helping to drive growth in our sector.”