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UK games industry to carry on growing in 2017, says TIGA

UK trade association TIGA has laid out its expectations for the British games industry as we head into 2017, and the key word is "growth." 

UK trade association TIGA has laid out its expectations for the British games industry as we head into 2017, and the key word is "growth." 

After surveying 50 games businesses, including a mix of small, medium, and large firms, the group found that 88 percent of respondents plan on expanding their workforce over the next year. 

50 percent of respondents went on to reveal they're more likely to secure an investment in 2017 than they were a year ago, while 30 percent explained their outlook remains unchanged. 

Digging deeper, 64 percent said they expect net profits to rise in the next 12 months, although 70 percent conceded that operating costs are also likely to increase. 

Despite the fact that the majority of businesses surveyed expect their running costs to rise, only 40 percent actually expect the price of their products to increase. 

As for what's holding companies back, the two most common problems mentioned by respondents related to financial access and discoverability. 

Still, TIGA CEO Dr Richard Wilson doesn't expect those issues to cause too much of a stir, and instead highlighted three key reasons why the region will continue to expand.  

"Firstly, the consumer market for games is big, broad and burgeoning. The UK is the sixth largest market for games in the world and 31.6 million people in the UK play games," he explained.

"Secondly, the spread of mobile and tablet devices, the new console generation, the popularity of PC games and the advent of virtual reality and augmented reality are prompting investment in games. Thirdly, Video Games Tax Relief is fanning the flame of growth."

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