Saudi Arabia to Earn $13.3 Billion from Esports and Gaming by 2030
Saudi Arabia’s Esports and gaming sectors could contribute $13.3 billion to the Kingdom’s GDP and create nearly 39,000 jobs by 2030. The Kingdom’s National Gaming and Esports Strategy outlines this ambitious goal. PwC Middle East’s latest report, in collaboration with the Saudi Esports Federation, titled ‘Centre of the Game: KSA Emerges as a Significant Player in the Global Esports Market,’ highlights Saudi Arabia’s efforts to build an entire Esports value chain. These initiatives are expected to create new career and business opportunities, positioning the Kingdom as a hub for Esports by 2030.
Saudi Arabia’s Position in Global Esports Market
The global Esports industry has experienced significant growth and is currently valued at over $1.4 billion. It is projected to reach $1.86 billion by next year, driven by revenues from media rights, sponsorships, advertising, merchandise, tickets, and game publisher fees.
Turki Alfawzan, CEO of the Saudi Esports Federation, emphasized the Kingdom’s commitment to innovation and youth empowerment. He stated that the Esports sector is a key pillar in Saudi Arabia’s economic diversification efforts under Vision 2030. Alfawzan expressed excitement about continuing this journey, fostering a vibrant community that drives creativity, engagement, and excellence on the global stage.
Middle East’s Rising Interest in Esports
The Middle East is heavily investing in Esports, with governments and private entities building gaming zones, arenas, and hosting global tournaments. In 2023, gaming revenues in the Middle East and Africa hit $7.2 billion, positioning Saudi Arabia as a key player. The Kingdom is home to 23.5 million gaming enthusiasts, accounting for 67% of its population. Additionally, nearly 1,000 players in Saudi Arabia are pursuing full-time Esports careers.
Saudi Arabia’s Strategic Focus on Esports
Abdulrahman Kanafani of PwC Middle East highlighted that high mobile use, youth population, and government backing boost regional Esports growth. Esports has become a cultural and economic powerhouse, fostering professional players, teams, leagues, and significant cash prizes. Saudi Arabia’s emphasis on engaging youth and nurturing talent ensures the country can leverage the Esports industry’s growing momentum.
Vision 2030 and the Path to Success
In 2022, Saudi Arabia unveiled its National Gaming and Esports Sector Strategy to nurture a competitive Esports ecosystem. This aligns with Vision 2030’s objectives to diversify the Saudi economy. The Saudi Esports Federation has been at the forefront of these efforts, aiming to establish Saudi Arabia as the global hub of Esports.
Challenges and Future Outlook
Despite rapid growth, the global Esports sector faces challenges, including monetization issues and technological advancements. The sector must navigate a competitive hardware market, diverse consumer preferences, and regulatory hurdles. However, the outlook for growth in the region remains positive.
Saudi Arabia advances its gaming sector with Qiddiya City, planning the world’s first comprehensive Esports and gaming district. The expected development will attract 10 million visitors annually, further cementing Saudi Arabia’s position as a premier Esports destination.
As Saudi Arabia lays the groundwork for a thriving Esports ecosystem, maintaining momentum is crucial. The Kingdom’s efforts will make it a leading Esports destination on the world stage by 2030.
