ECONOMIC IMPACTS OF THE DEMAND FOR PLAYING INTERACTIVE ENTERTAINMENT SOFTWARE ON US ECONOMY
How significant is the overall demand for computer and video games in the U.S. economy? In 2000, its economic impacts, including direct and indirect economic effects, were:
• Employment for 219,600 people;
• Wages of $7.2 billion;
• Federal and state personal income tax revenues of $1.7 billion; and
• A $10.5 billion market for game software publishing, wholesaling, and retailing, as well as transporting, wholesaling, and retailing of some, but by no means all, complementary game hardware.
Demand for computer and video games directly affected the information, trade, and transportation sectors.
In the information sector alone, which is where game software is produced, the economic Impacts, including direct effects of demand for game software and the indirect effects of all industry spending initiated by the game software publishing industry, were:
• 124,500 jobs;
• $4.9 billion in wages;
• $1.2 billion in taxes; and
• A $9.3 billion market for game software publishing, wholesaling, and retailing.
In 2000, sales in the game software industry were growing at a rate of 15 percent per year, more than double the rate of growth of the U.S. economy as a whole and far outpacing sales growth in related industries.
In addition, the software publishing industry devotes 14 percent of it receipts to research and development, compared to other entertainment industries which devote 9 to 12 percent of sales to R&D.
This dynamic industry is bringing improved technology, new types of games, and new users to the market, generating employment and fiscal revenue across the nation. Its significance to the U.S. economy will only continue to grow.
How significant is the overall demand for computer and video games in the U.S. economy? In 2000, its economic impacts, including direct and indirect economic effects, were:
• Employment for 219,600 people;
• Wages of $7.2 billion;
• Federal and state personal income tax revenues of $1.7 billion; and
• A $10.5 billion market for game software publishing, wholesaling, and retailing, as well as transporting, wholesaling, and retailing of some, but by no means all, complementary game hardware.
Demand for computer and video games directly affected the information, trade, and transportation sectors.
In the information sector alone, which is where game software is produced, the economic Impacts, including direct effects of demand for game software and the indirect effects of all industry spending initiated by the game software publishing industry, were:
• 124,500 jobs;
• $4.9 billion in wages;
• $1.2 billion in taxes; and
• A $9.3 billion market for game software publishing, wholesaling, and retailing.
In 2000, sales in the game software industry were growing at a rate of 15 percent per year, more than double the rate of growth of the U.S. economy as a whole and far outpacing sales growth in related industries.
In addition, the software publishing industry devotes 14 percent of it receipts to research and development, compared to other entertainment industries which devote 9 to 12 percent of sales to R&D.
This dynamic industry is bringing improved technology, new types of games, and new users to the market, generating employment and fiscal revenue across the nation. Its significance to the U.S. economy will only continue to grow.