Esports & Gaming to Contribute SAR 50 Billion to Saudi Economy by 2030
The Kingdom has sought to position itself as a hub for esports through a series of major international gaming events.
According to a PwC Middle East report in collaboration with the Saudi Esports Federation (SEF), esports and gaming in the Kingdom could contribute SAR 50 billion to the nation’s GDP, and create nearly 39,000 jobs by 2030.
The report, titled ‘Centre of the Game: KSA Emerges as a Significant Player in the Global Esports Market’, highlights the Kingdom's efforts to position itself as a hub for esports by developing an entire value chain to sustain the market. For example, Qiddiya, the entertainment and tourism megaproject in Riyadh, has unveiled plans to create the world’s first gaming and esports district.
The global esports industry has experienced significant growth in recent years and is currently valued at over USD 1.4 billion. It is projected to reach USD 1.86 billion by 2025 next year, with revenues from various streams such as media rights, sponsorships, advertising, merchandise, tickets and game publisher fees.
“The high levels of mobile and digital penetration, a large youth population, and active support from governments in the Middle East have created a favorable environment for the growth of esports in the region,” Abdulrahman Kanafani, Consulting Partner at PwC Middle East tells SceneNowSaudi. “It is now not just a source of entertainment; it has evolved into a cultural and economic force, leading to the emergence of professional players, teams, leagues, and substantial cash prizes.”
Despite a strong outlook for growth, the report emphasized that the Kingdom will still need to overcome several challenges faced by the sector, such as monetization issues, technological hurdles, and a lack of regulatory standards.
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