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Japan's Tax Hike Bad News for Game Industry?

Japan is mere minutes away from its first national consumption tax increase in 17 years. When the fiscal year begins on April 1, the rate will jump from 5% to 8%, and is set to take another step up to 10% in October of 2015, meaning the rate will have doubled in the space of only a year and a half.

Consumer spending is expected to take a sharp decrease, especially on non-essential items like entertainment electronics. What could this mean for the game industry, especially platforms that are already struggling or brand new?

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gamerevolution.com
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dbjj120881515d ago (Edited 1515d ago )

The Gran Torino gif got me.

ftwrthtx1515d ago

The use of the random images really make the article entertaining. LOL

knifefight1515d ago

I hope physical media and TV consoles can survive the economic transition.

ftwrthtx1515d ago

Taxes suck bit consumers will still want to buy things they want regardless of the taxes.

urwifeminder1514d ago

The whole Japanese economy is against the wall lots of closures coming you could assume.