On Monday, Crown Prince Mohammed bin Salman of Saudi Arabia made a significant announcement regarding the gaming and esports industry in the country. He revealed the initiation of the Esports World Cup, a major international event set to debut in Riyadh every year, starting in the summer of 2024.
This ambitious initiative is expected to be the largest of its kind globally, with its primary goal being to provide strong support to the gaming and esports sector. In doing so, it seeks to firmly establish Saudi Arabia as a central hub for international esports.
The launch of this tournament is aligned with Saudi Arabia’s National Gaming and Esports Strategy, which has specific objectives to achieve. Among its key goals is to significantly enhance the sector’s contribution to the Kingdom’s gross domestic product (GDP) by a remarkable amount, exceeding SR50 billion (equivalent to $13.3 billion) by the year 2030. Furthermore, this strategy is designed to create a substantial number of new employment opportunities, with a target of 39,000 jobs.
In addition to the tournament announcement, the Crown Prince introduced the formation of the Esports World Cup Foundation, a nonprofit organization that aims to foster collaboration among various stakeholders within the esports industry.
These exciting developments were unveiled during “The New Global Sports Conference” held in the capital city of Saudi Arabia.
In the words of the Crown Prince, “The Esports World Cup represents a natural progression in Saudi Arabia’s journey towards becoming the world’s leading destination for gaming and esports. It promises an unparalleled esports experience that pushes the boundaries of the industry.”
He also emphasized how the competition would contribute to achieving the objectives outlined in Vision 2030, which includes diversifying the economy, boosting the tourism sector, generating employment across various industries, and offering top-tier entertainment for citizens, residents, and visitors alike.
This emphasis on esports is particularly significant for Saudi Arabia, as it aligns with its broader economic diversification efforts in line with Vision 2030. Moreover, the annual esports event is anticipated to attract more tourists to the Kingdom.
The Esports World Cup will feature a variety of popular games across different genres and is poised to offer the largest prize pools for winners in the history of esports. Additionally, the event will provide a diverse range of activities and attractions for attendees.
According to a press statement, the Esports World Cup Foundation will disclose further details about the event in the early months of 2024.
Source: Arab News
