With its GDP largely relying on the oil industry, Saudi Arabia is currently ranked among the Top 20 economies in the world. Nonetheless, the Saudi Arabian government acknowledges that for the country to secure a prosperous future for its people, it must reduce its dependence on oil by diversifying its economy. In line with this, Prince Faisal bin Bandar bin Sultan Al Saud has revealed that the country intends to emulate the UAE’s success in becoming a tourism hub. The UAE utilized its oil revenue to transform itself into a premier tourist destination in the Middle East, and Saudi Arabia plans to follow suit with its “Vision 2030” initiative, which aims to diversify its economy by the end of the decade.
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“Vision 2030” Project to Turn Saudi Arabia into a Gaming Hub
In an effort to reduce its dependency on oil, Saudi Arabia has come up with a plan dubbed “Vision 2030.” This is a strategic framework whose goal is to diversify the country’s economy by investing in certain sectors that are still not as developed as in many other countries. One of those industries is gaming. The video game industry of Saudi Arabia isn’t at a high level at the moment, but by the end of the decade, we could see this country turning into a gaming hub. We’re not just talking about the Arab world, but the entire planet.
The Saudi Government’s plan to invest roughly $38 billion in the eSports industry is not merely wishful thinking. They are taking the development of eSports seriously and have committed significant resources to this endeavor. The Saudi eSports Federation is pleased with this decision, but they see it as just the beginning. The $38 billion investment is intended to inspire private companies from all over the world to follow the Saudi Government’s lead. The response from leading eSports figures at The Next World Forum in Riyadh last September has been positive, with many expressing interest in investing, including the CEO of British eSports Chester King and former G2 eSports CEO Carlos “ocelote” Rodriguez.
There’s Already an eSports Craze in Saudi Arabia
The Saudi Arabian government’s decision to invest in the expansion of the country’s eSports industry may have been influenced by the game’s existing popularity in the country. eSports has already gained a strong following in Saudi Arabia, with hundreds of semi-professional players practicing their skills. The country is also estimated to have one of the highest percentages of amateur gamers in the Gulf region, with many playing video games on their phones, while others engage in regular computer gaming.
In addition, eSports betting is reportedly quite popular among Saudis, despite the absence of operational casinos in the country. Many enthusiasts have found ways to indulge in their hobby through Saudi Arabian eSports betting sportsbooks and online casinos. The fact that these gambling sites accept Saudis is proof of the growing demand for eSports betting in the country, which further highlights the popularity of gaming in this part of the world. The Saudi eSports industry is poised for growth in the coming years, especially if all stakeholders involved play their part. This includes professional eSports players, who have a crucial role to play in promoting the industry’s development.
eSports Athletes to Help Government Achieve its Plans
Saudi Arabia has a burgeoning gaming industry with a growing number of players, however, its professional eSports players have yet to make a mark on the global stage. According to data from eSportsearnings.com, Saudi players have collectively earned only around $8.5 million, a modest sum compared to the likes of China, which has earned nearly $240 million. Even smaller countries like Denmark have earned over $52 million. The Saudi eSports federation recognizes the need to improve the performance of its players and is taking steps to help them, such as sending them on courses to improve their skills and investing in their equipment. The federation is also looking to attract established eSports players from around the world to come and assist in their efforts, which could potentially lead to some elite players relocating to Saudi Arabia in the future.
Final Thoughts
The Saudi Arabian government’s Vision 2030 initiative aims to diversify the country’s economy by investing in various industries, including gaming. With a $38 billion investment in the eSports industry, the Saudi government is serious about turning the country into a gaming hub. The existing popularity of eSports in Saudi Arabia has fueled this decision, with many enthusiasts already engaging in the activity. While Saudi Arabia’s professional eSports players have yet to achieve significant success on the global stage, the Saudi eSports federation is taking steps to improve its skills and attract established players from around the world. With all stakeholders involved, the Saudi eSports industry is poised for growth and has the potential to become a significant player in the global eSports scene.