New Zealand has announced a new tax rebate of 20% for game development. Individual studios are set to receive up to NZ$3 million per year in funding. The rebate is set to provide a long-term incentive for people to build their gaming businesses.
In 2020, the New Zealand gaming industry doubled its annual revenue, when compared to 2018. Looking at annual reports, it seems that the gaming industry in New Zealand is now worth more than the wool industry. They’re set to become the biggest exporter of games too, based on current data.
With annual growth fluctuating between 28% and 35%, it’s an exciting time to be a developer within the country.
Source: Pexels
Kiwis are Driving Game Development and Exports
Of course, there would be no room for game developers if there wasn’t a strong gaming market. Gamers in New Zealand have very strong preferences when gaming too. Studies have shown that 98.99% of players have a preference for online pokies, which is currently dominating the gaming culture in New Zealand. Roughly around 67% of players play pokies exclusively, which helps to showcase the loyalty people have to the games that they play.
This demand has encouraged developers at NZ-based casinos, including the ones who work at Jackpot City, to create more variants and themes for pokies. These are often complemented by sites that direct people to where they can find out about, and claim Jackpot City free spins and bonuses. This is to encourage players to try newly released variants and releases, driving consumer engagement.
Even though Kiwi gaming preferences are always changing, one thing’s for sure, the digital market is thriving, as reported by CRN news, and it is helping to put NZ on the map when it comes to game creation and development. As online games are catered to a worldwide audience, New Zealand isn’t just becoming one of the biggest exporters of games, it’s becoming a top creator of online variants.
Source: Pexels
A Winner for the New Zealand Economy
The New Zealand gaming sector brings in over $400m a year. It’s the winner of global awards and it is also bigger than the gaming sector in Australia. If New Zealand can keep injecting funds into the sector, then there’s no reason why it cannot become a winner for the economy. One of the main reasons why New Zealand is becoming a top exporter of games is down to the intensive training that people in the sector get.
It’s clear that New Zealand is a thriving hub for digital content. There’s also a lot of room for natural career progression and idea generation, thanks to the continuous injection of funding. It looks like this is paying off too, as the economy is thriving as a result of exports and if this continues then it’s going to mean huge steps forward for the country.
With the gaming sector growing more by the year, it’s safe to say that the New Zealand entertainment niche is quickly outpacing the exports that they are currently known for. New Zealand game exports are showing no signs of slowing down, and with the boost in online gaming, it’s going to be interesting to see where things go from here.
