RIYADH: In a groundbreaking announcement during “The New Global Sport Conference” in Riyadh, Saudi Crown Prince Mohammed bin Salman declared the kick-off of the Esports World Cup, an annual mega-event set to debut in the summer of 2024.
The grand tournament aims to position Saudi Arabia as the premier global hub for gaming and esports, signaling a significant leap in the Kingdom’s commitment to diversifying its economy and boosting the tourism and entertainment sectors.
The tournament is expected to help accelerate the realisation of the National Gaming and Esports Strategy set by Saudi, which aims to increase the sector’s contribution to the kingdom’s GDP by more than 50 billion Saudi Arabian riyals ($13.33 billion) by 2030 and create 39,000 new job opportunities.
bin Salman unveiled not only the Esports World Cup but also introduced the Esports World Cup Foundation, a non-profit organization dedicated to fostering collaboration within the esports community and ensuring the sector’s long-term sustainability. The announcement marks a pivotal moment in Saudi Arabia’s journey to becoming a central player in international esports and sports competitions.
bin Salman emphasized the tournament’s role in realizing the Vision 2030 objectives, citing the Esports World Cup as a crucial catalyst for economic diversification, job creation, and world-class entertainment. He described the event as the “natural next step” in Saudi Arabia’s evolution into a global gaming powerhouse, offering an unparalleled esports experience that pushes industry boundaries.
Building on the success of local esports events like GAMERS8, the Esports World Cup aligns with Saudi Arabia’s ongoing efforts to nurture and expand the esports sector. The tournament will feature a diverse array of popular games and boast the largest prize pool in esports history, creating a unique cross-game competition format to determine the ultimate Esports World Cup Champion.
Moreover, the Esports World Cup aims to provide a thriving environment for players, clubs, and the overall esports sector, supporting the National Gaming and Esports Strategy. This strategy, targeting a more than SR50 billion contribution to the Kingdom’s GDP and the creation of 39,000 new jobs by 2030, is expected to gain momentum through the tournament’s implementation.
The summer spectacle is not only about competition but also a comprehensive entertainment experience. The Esports World Cup will be complemented by a range of activities and events, turning Riyadh into a gaming capital and attracting visitors and tourists. This strategic move aims to mitigate the traditional summer decline in hotel occupancy rates, tourism spending, restaurant & cafe spending, and consumer purchasing power, presenting a significant opportunity for Saudi tourism.
As the Esports World Cup Foundation prepares to reveal additional details in the coming year, the gaming world eagerly anticipates the transformative impact of this ambitious venture on the global esports landscape.
Gaming revenues in the Middle East and Africa (MEA) are expected to reach $7.2 billion in 2023, with Saudi Arabia emerging as a key player, according to the Global Games Market Report by video game and gamer data firm Newzoo.
The report also attributed the growth of the industry in the region to companies such as Saudi Arabia’s Savvy Games Group, which has dedicated nearly $8 billion to acquire and establish ownership in global games brands. The company also boasts a substantial $38 billion fund to facilitate future ventures in the sector.
