Sharp decline in sterling boosts appeal of local studiosEchoing Develop’s December report, Tiga has released a statement pointing to the opportunity for UK studios as Sterling continues to slump against the Dollar, Euro and Yen.
Tiga’s CEO Richard Wilson said: “For the last decade British companies have had to rely on the UK industry’s well-deserved reputation for quality. Now we can compete hard on price as well as quality.”
As the economic crisis continues to make goods from overseas increasingly expensive for UK shoppers, the services offered by games industry companies in the British Isles are becoming exceedingly competitively priced for customers looking to invest in the likes of middleware, development and art production.
A year ago ¥10 million bought Japanese customers £47,619 of UK goods and services, reveals Tiga, whereas now it buys £74,361, meaning a 56% increase in the value companies can offer. Similarly, $100,000 bought £50,632 a year ago against £66,955 now. Closer to home, customers who invested €100,000 in the UK games in last January would have bought (€1.345/£1) £74,349 against £89,800 now.
"Every cloud has a silver lining,” added Philip Oliver, CEO of Blitz Games Studios. “The current financial turmoil has resulted in the exchange rate tipping hugely in favour of using UK developers. We're still producing the high quality games we've earned the reputation for, but now we're doing so on very competitive pricing.”