How Does Gaming Industry Contribute to Economy in The Pakistan?
Over the past few years, gaming has gradually developed into a profitable business that boosts the economy by millions of dollars. The largest video gaming market in the world is Asia, where 45% of players are located, and Pakistan is an up-and-coming market. Revenue from the gaming sector in Pakistan has more than doubled since 2017, and over the following few years, growth is anticipated although at a slower rate.
Despite being ignored, the sector in Pakistan has had steady growth throughout the years. Many talented gamers have constantly done well and brought honor to the country by winning several awards.
Gaming Industry Likely To Generate $400 Million Annually
The Pakistan Software Houses Association (PASHA) and Tencent Games recently hosted a conference where the gaming sector and its possibilities were reviewed. Government representatives, game developers, game studios, business owners, freelancers, and telecom carriers were among the attendees.
The panel discussed the gaming industry’s sustainability, prospects, and challenges, highlighting how once barriers are removed and the sector achieves sustainability, it might have a significant positive impact on the economy.
With such a sizable market, Pakistan would profit greatly from the promotion of the gaming sector there. Direct financial gain and job creation are the main advantages, as more businesses will generate thousands of new employment and so improve Pakistan’s labour market.
Things like E-sports and other competitive competitions, which are also regarded as a major cash stream, are among the industry’s secondary advantages.
Badar Khushnood, the chairman of PASHA, emphasized that Pakistan’s IT sector has access to a $90 billion market, simply from mobile gaming. He continued by saying that Pakistan’s software companies have long produced games for audiences abroad, and that, with the right rules in place, the gaming sector may promote economic growth in Pakistan. It was declared at the conference that the gaming industry alone has the potential of generating $400 million if ease of business is ensured.
Panelists talked about the state of Pakistan’s gaming business at the time and the difficulties it would have to face to expand sustainably in the years to come, according to a press release released after the event.
Pakistani game developers often create mobile games for a worldwide audience. The gaming industry in Pakistan has the potential to boost economic growth if properly supported by policies. Some of the famous games in Pakistan are PUBG, Dota, Hearthstones-Heroes of warcraft, League of Legends, Overwatch etc.
Evolution of Gaming Industry on Pakistan
If we look back at the history of Pakistani game developers, we can find that they started creating various game genres in the 1990s, although mostly for PC and consoles. Mobile gaming has taken over the industry, and now more people play games on their phones than on computers or video game consoles.
When smartphones first became available in Pakistan in 2005–2006, game developers began to focus more on mobile games. “As mobile games gained popularity outside of Pakistan, Pakistani developers began creating titles for that market. The developers expanded throughout time, although only in a small area. Although it was just the beginning, mobile games were not all that popular in Pakistan “Ali Ihsan, CEO of FRAG Games, stated.
Developers and the industry both began to expand quickly. Ihsan claims that the game creation sector began to take off in 2012 and has been expanding ever since. The biggest rise occurred when Pakistan’s gaming population began to play PUBG Mobile during the COVID period. We have witnessed accelerated growth during the past five years. Despite a six-fold growth in sales, resources climbed by more than five times.
Demographics and Statistics About Video Game Industry in Pakistan
Here are some interesting and fascinating facts about video game industry in Pakistan and its growth:
- Pakistan is expected to have 50.9 million gamers (20.6% of the population) by 2026, up from an anticipated 36.8 million gamers (16% of the population) in 2022.
- Revenue from the video game industry in Pakistan is expected to reach US$208.70 million in 2022 and expand at an average annual rate of 2.17% from 2022 to 2026, reaching an estimated US$227.40 million in annual revenue by that year.
- Pakistan’s 2022 forecast for average consumer spending is $5.67 USD per person, which is less than many other global markets but comparable to Pakistan’s neighbor, India.
- Most gamers in Pakistan are males instead of females; according to a 2021 report, 76.9% were males and 23.1% were females.
- The younger generation in Pakistan currently enjoys playing video games: aged 18 to 24: 44% age group of 25 to 34: 43.1% Age group 35-44: 12.9% As today’s gamers continue to play well into their fifties and beyond, gaming is likely to appeal to older age groups in Pakistan in the future.
- In Pakistan, all socioeconomic categories have access to gaming, and the proportion of lower- and higher-earners who play does not differ significantly.
Google Uplifting The Pakistani Developers
Google has been at the forefront of promoting the gaming industry in Pakistan as well as globally.
The youth of Pakistan have demonstrated their aptitude in the game development sector with the aid of Google’s mentorship. According to statistics, Pakistani game makers bring in between $40 and $50 million annually. 350,000 developers make up the fourth-largest talent pool in the nation. In the years 2018 through 2021, domestically developed video games accounted for the lion’s share of sales in North American and European marketplaces. But that’s not all; games produced in Pakistan have also been exported to Turkey, Spain, South Korea, and many other Asian nations.
The local game industry has its roots in a number of significant Google initiatives. The tech juggernaut began by educating ambitious game development start-ups at the ground level. As it rose through the ranks, it started a number of rapid plans to boost the nation’s gaming industry.
In terms of e-sport profits, Pakistan is placed 29th out of 150 nations, with 278 homegrown athletes taking home a collective $4.78m. Numerous occupations that parents learned about in school are being replaced by contemporary job types. Perhaps it’s time to set aside the Pythagoras Theorem and give your child a gaming system for her upcoming birthday.
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