Tiga research says commercial clout of Britsoft can 'help economic recovery'
As a clutch of UK games developers fly out to Los Angeles for this year's E3, Tiga has put out new research which says Britsoft exports can greatly support Great Britain's economic recovery.
The UK Video Games Industry: An Export Success Story ' confirms that the games development sector has a very high propensity to export' says Tiga.
TIGA’s research shows that 91 per cent of UK games developers export their products (games), compared to just one third of small and medium-sized enterprises generally. Additionally, on average, 62 per cent of a developers’ turnover is generated from the export of games.
For 72 per cent of UK game developers, the USA constitutes one of their most important geographical markets.
Richard Wilson, Tiga CEO, added: "This is confirmed by the fact that leading UK games developers including Blitz Games Studios, Crytek UK, Eutechnyx, Kuju Entertainment, Iguana Entertainment Ltd, Firebrand Games, Relentless Software and Team 17 are attending E3 on June 15th – 17th 2010, the annual video game conference and show at the Los Angeles Convention Centre."
And 'developers want to export more in the future' he added: "35 per cent of UK developers want to expand their business in the USA; 31 per cent wish to increase their business in China, 23 per cent are interested in growing their business in Japan and 22 per cent have ambitions to grow within the European Union."
And of course, Tiga points out the best way to encourage these exports is - you guessed it - through games production subsidies.
Said Wilson: “If the Government is serious about reorienting the UK economy towards high technology, low carbon, highly skilled, export focused industries, then it should introduce Games Tax Relief in the Budget on June 22nd. Games Tax Relief will increase investment, expand employment and enhance the sector’s capacity to export. Games Tax Relief will more than pay for itself. TIGA’s research shows that over a five year period it will generate £415 million in tax receipts for HM Treasury.”