Brazil: A Potential Gaming Market
BRAZIL is the seventh biggest country by population and the fifth largest by size, yet the gaming industry has struggled to make its mark in physical retail stores. This is not due to lack of interest from Brazilians, but rather issues related to taxation and pricing.
The Impact of Taxes on Gaming
In 2018, a report revealed that gaming consoles, such as the PS4, were significantly more expensive in Brazil compared to North America. This was due to high import taxes, VAT, and luxury goods taxes. As a result, many players resorted to piracy, leading major publishers to exit the market.
Revival of the Gaming Industry
Despite these challenges, a significant reduction in tax rates for consoles has revitalized the gaming industry in Brazil. Nintendo re-entered the market with the launch of the Nintendo Switch, and Brazil is now ranked as the world’s 10th largest gaming market.
The Rise of Gaming Conventions
Recently, Gamescom Latam made its debut in São Paulo, attracting over 100,000 attendees from 70 countries. Brazilian developers showcased their creations, with Nintendo’s booth stealing the spotlight.
The Future of Gaming in Brazil
With more affordable consoles and a growing pool of talent, Brazil is poised to become a major player in the gaming industry within the next five to ten years. The vibrant atmosphere at events like Gamescom Latam reflects the passion and potential of Brazil’s gaming community.
Brazil: The Next Gaming Hub?
Similar to China's rise in the gaming industry, Brazil has the potential to become a significant gaming hub in the near future. With a young and enthusiastic gaming scene, Brazil is on the path to transforming into a key player in the global gaming market.
If you're interested in learning more about upcoming games, be sure to read our Zenless Zone Zero review.
Did you miss our previous article...
https://trendinginthenews.com/gaming/pokmon-unveils-new-mons-in-scarlet-and-violet
