Economics
In the News
Singapore's e-sports training academies
20th November 2017
A superb two minute video here from the BBC on the growth of e-sports training schemes in Singapore. Annual turnover in the global e-sports market is forecast to reach $1.5bn in three years.
Why Singapore is training professional gamers https://t.co/u5G9hEBc3m
— BBC World Business (@BBCWorldBiz) November 20, 2017
E-sports events fill stadiums and cinema screens and the earnings of the top 3% of gamers have soared in recent years.
This is a great example of the derived demand for labour. As the e-sports industry expands, so too does the number of people needed as players, trainers, commentators and event organisers.
At the top echelon of the labour market, the supply of the best e-sports gamers is highly inelastic.
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