The iGaming industry is a rapidly growing sector in New Zealand, with the number of online gaming sites increasing every year. The industry has become an important part of the country’s economy, and it is estimated that it contributes around $1.2 billion to the GDP each year. This figure is expected to continue to grow as more people become involved in the industry.
iGaming has had a positive impact on the economy of New Zealand, creating jobs and providing an additional source of income for many people. The industry has also helped to boost tourism in the country, as more people visit New Zealand to take part in online gaming activities. This has led to an increase in spending in the country, which has helped to stimulate economic growth.
The iGaming industry has also had a positive effect on the country’s tax revenues. The government has been able to collect taxes from online gaming sites, which has helped to increase government revenue. This revenue can then be used to fund public services, such as healthcare and education.
However, there are some potential negative impacts of iGaming on the economy of New Zealand. For example, there is a risk that people may become addicted to online gaming and end up spending too much money on it. This could lead to financial problems for individuals and could also have a negative effect on the economy as a whole.
In addition, there are concerns that online gaming could lead to an increase in crime. This is because criminals may use online gaming sites to launder money or to fund other illegal activities. This could have a negative impact on the economy, as it could lead to an increase in crime rates and a decrease in public safety.
Overall, the iGaming industry has had a positive impact on the economy of New Zealand. It has provided jobs and additional income for many people, while also helping to boost tourism and government revenue. However, there are some potential risks associated with the industry which need to be considered before it can be fully embraced by the country.
