Straddling between past and future
Recent developments in the Western economy have certainly not been the rosiest. The Covid-19 pandemic has left a major scar in the economic and social fabric, especially if we consider both that it came after the years of hard recovery from the 2008 financial crisis and that it came on top of three other major problems: the energy crisis, the outbreak of war in Ukraine and the climate crisis. These factors had a considerable impact on the increase in prices and thus on the reduction of households’ disposable income. In addition, recent years have seen a major transformation of markets, both financial, goods and labour. This is due to the digital revolution -at least to a large extent- and clearly the natural consequence of this revolution is the emergence of new types of activities, especially in the provision of services. One notable sector that is benefiting from this change is online gaming, which has rapidly become a key player in the modern economy. While traditional industries are struggling to adapt to digital advances, online gaming stands out as a dynamic and resilient sector that contributes to diversification and economic growth.
Growth and impact of digital activities: online gaming as a concrete case
Unlike traditional gambling, which often involves physical venues, online gaming offers a virtual platform where users can engage in gaming activities from anywhere in the world. This sector has experienced exponential growth in recent years, driven by advancements in technology, increased internet accessibility, and changing consumer preferences The online gaming industry continues to grow thanks in part to the many promotions offered that attract so many users. It is often possible to entertain oneself on these sites without using one’s own money, for example by taking advantage of a no-deposit bonus or free spins. For a complete overview, check these $200 promos, which will allow you to try your luck without risk. These incentives not only draw in new players but also enhance user engagement and retention. Moreover, the integration of social features and immersive experiences has broadened the appeal of online gaming, making it a mainstream form of entertainment and a significant contributor to the digital economy.
Positive effects are expected
The road to economic recovery is impassable, but above all uncertain. For example, the US national debt has risen to around USD 35 trillion, exacerbating fiscal pressures, while the level of inflation continues to rise too fast, reducing the purchasing power of citizens, since in most cases this does not correspond to an increase in wages. However, there is a light at the end of the tunnel: governments and companies are engaged in the development of the so-called green and digital transitions, precisely to encourage those sectors, such as online gaming, that aim at new, more efficient forms of business. In concrete terms, the contribution of the development of this sector consists in the creation of new jobs, in a variety of areas, such as customer service or marketing, and often these jobs can be done in smart working, thus leading to lower operating costs and energy consumption of companies. If companies are able to produce capital with less expenditure, they clearly benefit GDP growth, so the beneficial effect of these companies is manifested in both employment and production.
If business increases, the taxes paid by companies also increase
The other positive consequence that digital gaming has on the economy is clearly the tax revenue generated. With the regularisation and regulation of this activity, especially where it has been liberalised and thus where the economic benefits of online gaming are realised in a responsible and sustainable manner, governments have realised that these companies can make a significant contribution to state coffers. After all, if a sector grows, so does its share in public finances, which can obviously be reinvested in citizens, infrastructures and generally in the consolidation of public debt.
