Life can be tough at times, and despite the slow economic growth in certain first world countries, people still have enough financial freedom to spend on luxury items such as video games. Market analyst Newzoo has recently conducted a research on global game revenue estimates for 2017 sorted by countries. While it’s no huge surprise to see which nation tops the list, Malaysia clinched a respectable 21st spot, which is also 3rd among countries in South East Asia.
The revenues were estimated based on consumer revenues generated by companies in the global games industry and exclude hardware sales, tax, business-to-business services, and online gambling and betting revenues, with China topping the charts for expenditures around $27 billion. The United States of America follows closely behind in 2nd with an estimated spending power of $25 billion, while Japan placed 3rd with $12 billion in revenue.
According to the report, Malaysia sits just below Thailand on the 21st spot, with over $500 million of estimated revenue. This also places us third in the list of South East Asian countries, above the likes of Vietnam, Singapore, and the Philippines, with Indonesia topping the chart for estimated revenue around $800 million.
This might just be a simple study, but it shows Malaysia do have the potential to become a regional hub for video games development in South East Asia, which is what our government is trying to achieve. In fact, the numbers might actually increase in the future, provided the Ringgit doesn’t depreciate any further against USD.