COVID-19 has created several issues across the world. People are falling ill, schools and colleges have shut down, the workload on healthcare professionals have increased, a shortage of medical facilities, and many more activities have strongly impacted the overall economy. Currently, billions are being invested by countries in search of a vaccine to fight coronavirus.
On the other hand, the gaming industry is steadily progressing worldwide. In the last three-and-a-half months, there has been a significant spike in the gaming sector’s sales and also the duration for which the games are being played. Most of the millennials have used gaming to deal with their stress concerning the delays in their exams and results.
It has been reported that there is a rise of 30% in gaming addiction. The worldwide market for video games has estimated sales worth $159 billion in 2020, about three times the revenue of the music industry and four times the revenue of the box office.
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It has been observed that there is a strong connection between the rise in the gaming addiction among college students, fear of exams being postponed, as well as the stress related to COVID-19. As per the report published by the Indian Journal of Public Health, 50.8% of participants spent more time in gaming after the lockdown.
In the meantime, it has also been noted that sites such as YouTube, Twitter, and Facebook have also seen a rise of about 20% in the usage hours. Currently, people have a lot of time to spend due to the COVID-19 situation; the hobby of watching online videos has become almost as popular as gaming itself.
Most of the people are seeing gaming as an option to deal with stress. Millennials are spending a lot of time on gaming and are unable to gauge how it is impacting their day-to-day activities.
For any clarifications/feedback on the topic, please contact the writer at bhavana.pn@cleartax.in
Bhavana is a Senior Content Writer handling the GST vertical. She is committed, professional, and has a flair for writing. When away from work, she enjoys watching movies and playing with her son. One thing she can’t resist is SHOPPING! Her favourite quote is: “Luck is what happens when preparation meets opportunity”.
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