Canada’s Thriving Video Game Sector Generates $5.1 Billion for the Economy in 2024
3% economic growth in the sector since 2021 despite a slight decline in employment and number of studios
The gaming industry in Canada contributed $5.1 billion to the nation’s GDP in 2024, marking a 3% increase in the sector since 2021.
This aligns with a new economic report conducted by Nordicity for the Entertainment Software Association of Canada (ESAC), completed between May and July 2024.
The total contribution of $5.1 billion to Canada’s GDP is estimated to be $3.9 billion directly from the sector, with an additional $1.2 billion stemming from broader economic impacts such as the supply chain and employee salaries.
The study also found that 88% of the industry’s revenue comes from international markets, with 76% of companies remaining Canadian-owned.
There was a slight decrease in employment last year, down 3.5% compared to 2021. However, this was balanced by an increase in full-time positions from 81% to 86%, in addition to a 21% rise in average annual salary across all positions to $102,000.
The report suggested that the reduction in employment is attributed to ongoing challenges within the industry, including consolidations, studio closures, and workforce layoffs.
Currently, there are 821 studios employing 34,010 individuals in Canada. Ontario has the highest number of studios at 276, while Quebec holds the majority.