Tiga: Weak pound makes UK developers more competitive
Country offers better value for money as currency declines against the dollar
As the British pound has weakened, declining approximately 14 per cent against the US dollar since November last year, the value for money to others of doing business with UK-based developers is better than ever.
That's according to Tiga CEO Richard Wilson, who also underlined the other advantages that UK companies currently offer.
"The credit crunch and the accompanying turmoil in financial markets are wreaking significant economic damage across the globe," he said. "However, the decline in sterling against the dollar and the euro that has ensued with the credit crunch will help UK exporters, including games developers. Sterling could decline still further over the coming months if the Bank of England cuts base rates to support the domestic economy.
"UK game developers already possess a hat-trick of competitive advantages: a skilled workforce; experienced management teams; and an effective approach to outsourcing.
"The industry has an exceptionally well-qualified workforce, with 80-90 per cent of a typical UK studio's staff being qualified to degree level. Our management teams have a wealth of experience: 42 per cent of Tiga members' organisations have been in business for six years or more. Costs are controlled and quality enhanced through an effective approach to outsourcing: approximately two-thirds of Tiga members outsource at least some of their production activities.
"UK games businesses offer high quality games, produced on time and at great value. The 14 per cent decline in the value of sterling against the dollar over the last 11 months has enhanced the inherent value and competitiveness of UK games developers. It is great time to do business with UK based games developers."