Yasser Al-Rumayyan, Governor of the Saudi Investment Fund PIF, emphasizes the growth of the gaming and esports sector, projecting a 250% increase in the sector in the Kingdom by the end of 2030. The sector is expected to contribute approximately $13.3 billion to the GDP.
🔅 A Comprehensive Strategy to Boost the Sector
CrownPrince Mohammed bin Salman has launched a national strategy including 86 initiatives to develop the sector. This strategy focuses on developing infrastructure, establishing business incubators, organizing major events, and creating specialized educational academies, aiming to create over 39,000 job opportunities by 2030.
🔅 Strategic Investments to Support Growth
The PIF invests strategically in the sector, anticipating a global growth rate of over 13% in 2023. The fund plans to launch innovative projects such as game development studios and specialized training facilities.
🔅 Saudi Arabia: A Global Hub for Esports
The Kingdom is becoming a prime destination for international esports tournaments, with the launch of the Esports World Cup beginning in the summer of 2024. This event reflects Saudi Arabia’s commitment to achieving the goals of Vision 2030.
🔅 Competitiveness and Excellence in Investment
The fund focuses on developing local capacities, national competencies, infrastructure, launching new economic sectors, and achieving long-term strategic investment returns.
🔅 Capitalizing on Strategic Opportunities
The electronic sports sector is identified as a unique investment opportunity, focusing on developing products that enhance user experience and support entertainment and tourism goals. “Savvy” is working on establishing game development studios in Saudi Arabia.
🔅 Saudi Arabia: The Ideal Environment for Sector Growth
With its advanced digital infrastructure and passionate gaming audience, Saudi Arabia is the perfect place for investment growth in this sector. The Kingdom is making qualitative leaps in developing digital capabilities and large-scale digital projects.
