The road to XBOX ONE. Follow the journey

Games growth outpaces US economy

Ben Parfitt
Games growth outpaces US economy

Though the global games market is having to face up to some tough times at the moment, a new report from the Entertainment Software Association has outlined the true extent of the boom enjoyed by the sector in the last four years.

Entitled ‘Video Games in the 21st Century: The 2010 Report’, the study reveals that the US games industry achieved annual growth of 10.6 per cent every year between 2005 and 2009.

In comparison, the US economy as a whole grew by only 1.4 per cent in the same period. If the incredibly tough climate of 2009 is discarded, then gaming growth comes in at 16.7 per cent and the overall US economy at 2.8 per cent.

Throughout the period sales of games grew from $7bn to in excess of $10bn, with unit sales growing from 226.3m to 273m.

In total, the industry is responsible for adding $4.95bn to the US GDP.

“The industry also generates sales in the billions of dollars and creates thousands of American jobs,” the report reads. “The US interactive entertainment software industry is, and has been, one of the most rapidly growing industries in the United States.”



MCV today published a detailed look at the troubles facing the current US games market. Click here to take a look.

Advertisement

Tags: growth , video games , market , us , economy , gdp , united states

Follow us on

  • RSS