Video gaming is a more significant force in entertainment than many people can imagine. Of late there are many innovations and advances in technology that has enhanced the experience of video gaming to a high level. Also, there are a lot of hardware improvements in the graphics, and sound cards, superfast processor speed, 3D accelerators, etc. are some of the significant improvements done recently. The personal computer, smartphones, and tablets that you own are using them due to the gaming industry. This industry is growing very silently without people even realizing how it is positively impacting the economy.
As per reports in a leading daily, it is driving revenues close to $100 billion in the U.S alone. China is the leading market for gaming, followed by Japan and USA and if reports are to believe the revenue of international video gaming industry was more than double of the income of the global film industry last year. Many communities are showing interest in gaming, and with casinos developing and contributing to employment generation, there is a substantial positive impact on the economy. Listed below are a few ways it is helping with revenue generation.
Employment: One of the significant contributors to employment is the casinos. The employment opportunities are huge with more than a million jobs generated. Combined, casinos and other games close to $70 billion income in the United States. Moreover, the employment offered is for the diverse workforce which includes the minorities. Women are also employed in large numbers which bring in a lot of balance to the overall workforce. Apart from the non-technical staff, due to the use of the latest technology, there are many positions open for human resources, accounting, programming, administration, etc.
The income these employees earn from casinos is more than the average salary hence making it a high-paying income jobs for all employees working in a casino.
Employee satisfaction: Gaming industry and casinos, in particular, offer high paying and quality jobs and moreover, there are thousands of such jobs available for people of many diverse backgrounds. The industry also enriches the individuals who work with them by training them on the skills to succeed. Note that the workforce is competitive and hence to succeed the workforce is trained so that they can give their best. Employees are also provided options to complete or pursue their education so that they can get ahead in their career. They offer many benefits like flex timings, reimbursement if tuition fee, etc. so that there is overall development of the employees working in this industry.
Extends to other industries: The effect of gaming industry doing well is that it fosters other sectors. For example, if a casino does well, it attracts people to it and the area close to it also sees a rise in business which leads to more employment opportunities, this is known as the ripple effect. As the business grows, employment also grows and hence there is a positive impact on the economy.
Lastly due to the higher income and other benefits that employees enjoy they spend more on household services and products which further boost economy.