A Growing Industry in Saudi Arabia

Gaming and E-Sports is very lucrative and one of the fast-growing industries worldwide, with more than 3 billion enthusiasts. The industry offers a wide spectrum of opportunities for private and government sectors in terms of its economic benefits such as employment opportunities, technological advancements, enhanced quality of life, and revenue potentials.

According to Statista Digital Market Outlook on The World’s Top 10 Gaming Markets -Estimated revenue of video games (in Billion US Dollars), China dominated the gaming market, followed by United States and Japan.

Saudi Arabia’s Vision 2030 brings numerous opportunities for governmental and private sectors to develop initiatives in parallel with the Kingdom’s diversification goals in promoting non-oil industries. Boston Consulting Group’s 2021 report “Gaming & Esports: Media’s Next Paradigm Shift” forecasted that Saudi Arabia’s revenue from gaming will reach $6.7 billion by the year 2030. Gaming industry includes both video games and esports which is rapidly growing in the Kingdom.

As a matter of fact, Public Investment Fund (PIF) has announced the launch of Savvy Gaming Group (SGG). The group will be chaired by His Royal Highness Crown Prince Mohammed Bin Salman, Deputy Prime Minister, Chairman of the Council for Economic and Development Affairs, and Chairman of PIF.  SGG aims to be the leading gaming and e-sports group locally and internationally, as well as to further develop an integrated ecosystem for the gaming sector. The launching of the SGG is in alignment with PIF’s strategy to drive innovation in strategic sectors including the entertainment, leisure, and sports sector in the Kingdom (PIF, 2022).