Video game industry growth beats U.S. economy four to one

The latest report released by the Entertainment Software Association (ESA) reveal that the video game industry grew four times faster than the U.S. economy in 2003 to 2006. After seeing 17% annual growth, gaming left the national economy’s 4% in the dust.

More interesting findings await at the full article.

Saying the video game industry is growing faster than the U.S. economy is no understatement, because the Entertainment Software Association’s (ESA) latest report shows gaming’s growth ran laps around national economy and exceeded its growth four to one.

According to the report by ESA, the video game industry experienced more than 17% annual growth rate from 2003 to 2006. The U.S. economy only saw 4% growth during the same period. Here’s the gist of it:

• The computer and video game industryÂ’s value added to U.S. Gross Domestic Product (GDP) in 2006 was $3.8 billion; 
• In 2003-04 and 2005-06, the industryÂ’s contribution to real growth exceeded its share of GDP by more than four to one;
• The entertainment software industry directly and indirectly employs more than 80,000 people in 31 states; and,
• U.S. industry employees received total compensation of $2.2 billion.

40% of the industry’s workforce can be found employed in California. It’s also worth noting that Virginia, another major player, saw growth of the video game industry 172 times faster than the commonwealth.