Saudi Arabia Invests $37B in Gaming and Esports, Creating 3,600 Jobs by 2030

August 26, 2024
Saudi Arabia Invests $37B in Gaming and Esports, Creating 3,600 Jobs by 2030
  • Saudi Arabia is actively pursuing its Vision 2030 initiative, which aims to diversify its economy by fostering talent development in the gaming and esports sectors.

  • The country is transitioning from an oil-based economy to a more diverse economic model that includes a robust gaming and esports industry, necessitating significant job creation.

  • In this context, Savvy Games Group has partnered with Xsolla to enhance the gaming industry in Saudi Arabia and the broader Middle East, aiming to create new economic opportunities for game developers.

  • As part of this collaboration, Savvy Games Group signed a Memorandum of Understanding with Niantic to expand its presence in the MENA-3 region, which includes Saudi Arabia, the UAE, and Egypt.

  • Key initiatives from this partnership include the establishment of the Xsolla Savvy Game Development Academy, an incubator, and an accelerator program to support local game development studios.

  • These efforts are expected to generate approximately 3,600 new gaming jobs in the region by the end of 2030, significantly enhancing the local gaming and esports landscape.

  • Savvy Games Group is leveraging Saudi Arabia's oil wealth, with a reported $37 billion allocated from the Public Investment Fund to invest heavily in the gaming industry.

  • The Game Development Academy will promote game development as a viable career path and nurture local talent, addressing the need for skilled professionals in the industry.

  • Chris Hewish, chief strategy officer at Xsolla, emphasized the shared vision to empower developers and foster creativity within Saudi Arabia's burgeoning gaming industry.

  • Despite the challenges in attracting and developing local gaming talent due to cultural norms, the significant young population—67% of whom identify as gamers—presents a promising opportunity.

  • Additionally, the inaugural Esports Olympics is set to take place in Riyadh in 2025, marking a significant milestone in the country's commitment to becoming a global hub for gaming and esports.

  • The recent success of the Esports World Cup in Riyadh, which attracted over 500 million viewers and featured Team Falcons winning the championship, showcases the growing interest and investment in this sector.

Summary based on 4 sources


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