In the midst of economic gloom, the unrestrained triumphalism of Blizzcon, the two-day video games event, seems somewhat incongruous. Yet in the 30-year history of the video games industry, it has been well insulated from the world’s prevailing economic conditions.

Even through recession, sales of video games have grown – this is a business where, although the fates of individual companies have risen and fallen, the overall market has been in rude health.

This background has given many in the industry confidence that it is recession proof.

World of Warcraft, Blizzard Entertainment’s headline video game, has about 11 million players around the world. For Blizzard, this is a gigantic, stable revenue stream. For its players, it represents superb value – even more so as economic pressures take their toll. The £8.99 paid each month by players in Britain buys them dozens of hours of entertainment. As economic pressure cuts the disposable income of consumers, more expensive entertainments, such as eating out, fall out of favour. In theory, this creates time that people want to fill with more economical entertainment. Video games meet that need neatly.

The extremely strong underlying growth of the sector is also a consideration. In the past decade companies have developed into a medium with appeal across both genders and a wide range of ages. The result is, many senior industry figures believe, enough to see off any wider downturn in the economy. In a recession, games will have a much bigger slice of a slightly smaller pie.