UK esports industry bolstered economy by £111m in 2019
Latest research shows sector is growing consistently and provides more than 1,000 jobs per year
The UK esports industry boosted the UK economy by £111.5m in Gross Value Added (GVA) in 2019, according to a new report.
The study was commissioned by UK video game trade body Ukie and undertaken by economic analyst pair Olsberg SPI and Nordicity.
The report found the UK esports sector has grown at an average annual rate of 8.5% between 2016 and 2019 and that it provided more than 1,200 jobs in 2019.
The UK esports industry accounts for just under 8% of the global esports market, which is expected to take a $250m (£193.2m) revenue blow in 2020 due to the impact of the coronavirus pandemic.
The report also denoted several potential avenues for the UK esports industry to venture down in an effort to sustain future growth.
These included a more cohesive partnership between the sector and the UK government, specifically the Department for Digital, Culture, Media and Sport (DCMS), and persuading esports tournament organisers to hold major international events in the UK.
The report stated that a major global esports event held in the UK could generate 238 full-time equivalents (FTEs) of employment and £12m in GVA for the UK economy.
Jo Twist, Ukie CEO, said: “Esports is a global sector at the intersection of technology, creativity, broadcast and entertainment – all areas of real national strength for the UK.
“This report shows us that the UK has a strong and growing esports industry, but that there is more to do to capture the full potential of this exciting, high-growth sector,” she added.
Leon Forde, Olsberg SPI MD, added: “The report underlines the scale and breadth of this highly innovative sector in the UK, with really strong future potential.”