Serbian video game industry earns 50 to 100 million euros a year – Here's how to upgrade the operations
Illustration (Photo: Iryna Tiumentseva/shutterstock.com)
The video game industry in Serbia earned 50 to 100 million euros in 2018, as shown by a report prepared by the Serbian Gaming Association (SGA).
The report also says that, last year, more than 70 video games were made in Serbia and that there were 1,281 employees within the industry.
Also, only 18% of the companies covered by the survey developed games with a budget exceeding EUR 1 million, whereas 81% are optimistic regarding the future of the gaming industry in Serbia.
– The video game industry is bigger than music, film and TV industries in the world. Serbia might get a considerable part of this profit and this is a good opportunity for us to position ourselves as a good location – said the president of the SGA, Nikola Cavic.
He says that the most talented people need to be kept in Serbia, which means that the education system needs to offer the best education programs and that migrations need to be reduced or eliminated.
Also, according to him, the state needs to provide financial incentives, that is, to finance the presence of domestic companies and teams at conferences and fairs, and funds for the financing of domestic startups are needed as well.
It is necessary, he says, to improve the conditions of doing business through tax exemptions and the elimination of the barriers that are preventing large companies from coming to Serbia.
Cavic believes that the 2019 report, which should be published in the spring of 2020, will show positive changes.
– What I think will mark 2019 are larger acquisitions which took place this year. Large companies have entered our market and are coming here to work from Serbia. This will push the whole ecosystem forward. Another things that needs to be mentioned are the incentives that the state provided this year, namely, the IP box and the double taxation of costs of development of intellectual property projects. I believe that this will have a great impact, not so much on 2019, but certainly on the year 2020 – Cavic told eKapija.
The SGA was founded in 2017. It currently has 65 member companies.