Despite the doom and gloom of a recession, there's one industry that is prospering in both the UK and the US and it's the videogames industry.

A new report by the NPD Group, GfK Chart-Track Ltd. and Enterbrain Inc suggests that videogame sales grew a massive 15 per cent this year in the UK and didn't fare too badly in the US, either, with a hike of eight per cent.

Little anticipation

While gamers are laughing in the face of credit crunch over here however, the same cannot be said of Japan which saw a slump of 21 per cent.

Speaking about the Japanese downturn, Ricky Tanimoto, one of the global marketing analyst at Enterbrain, said: "2007 was a banner year for the Japanese software market with the titles released in the third quarter of 2008 not being as highly anticipated as those released during the same time period in 2007."

It's certainly been a big year for gaming, with major launches like Grand Theft Auto 4, Fable 2 and Sony's latest Little Big Planet.

GTA IV became one of the biggest selling games of all time, selling over 1.5 million copies in the UK alone.