The “Brexit” decision came as a shock to many, and is widely considered to have been a mistake. Unfortunately the United Kingdom is set to leave the EU very soon and the countries are seeing immediate repercussions in the business world. One sector that may make a mass emigration is actually the gaming industry. The BBC reports that up to two-fifths of gaming companies may be leaving the UK which will definitely hurt local income.
The companies cited losing access to top talent and funding as the main reasons for their decision to leave. The government has stated that they hope to continue to attract global talent, but with travel between European countries and the UK set to become much more of a hassle, that task may be easier said than done.
A Spokesman for the Department of Culture, Media, and Sport was quoted as saying, ” The UK’s creative industries are one of our biggest success stories, and we want to make sure the UK remains a world leader in video games production. As the prime minister made clear, we will continue to attract the brightest and best global talent. And we will continue to work with our creative industries to help seize the exciting opportunities that will flow from a new place for Britain in the world.”
Worldwide sales of games made in the United Kingdom hit 2.9 billion pounds last year, more than either music or video sales. As the UK’s most profitable media producers, the loss of gaming giants will be immediately felt in the post-Brexit environment.
The ability to attract top talent and retain access to funding is especially important right now for gaming developers, as only 60% of game companies projected business growth down from 80% last year.