A survey by Manx eGaming Association (MeGA) has revealed that taxes paid by the egaming sector more than doubled recently and are are expected to rise in the future.
According to MeGA’s survey, taxes paid by the sector more than doubled between 2008 and 2009 to £11.2m and it is expected that taxes paid to the Isle of Man Government will rise to more than £19m over the next 12 months. Island spending by MeGA members rose by 35 per cent last year and is forecast to grow by 26 per cent next year. However, while both total spending on the Isle of Man and taxes paid were higher than anticipated, employment growth was less than forecast by MeGA members.
MeGA members employ a significant proportion of people working in the sector and last year employee numbers increased by 18 per cent although uncertainty in the economy, coupled with changes in policy by some members, meant that this employment increase was below that forecast. Recent reports from members suggest that there is renewed optimism in the sector and this is shown by a forecast increase in employment of 20 per cent over the next 12 months.
More than half of those people employed by MeGA members are Manx workers, so the sector is directly contributing to the economic welfare of local people. The multiplier effect means that their spending has a beneficial impact on many aspects of Island life.
Each year, since its inception in 2006, MeGA has conducted a survey of its members and considered other available information in order to analyse the development and needs of the egaming industry on the Isle of Man.
