….projected to create 39,000 eSports-related jobs by 2030

Saudi Arabia said on Monday, October 23 it would organise an eSports World Cup starting next year and it is expected to have the largest prize pool in esports history.

A statement from Saudi Crown Prince Mohammed bin Salman said the competition will be held annually in Riyadh starting summer 2024.

Clubs will compete across games from various genres to become the ultimate Esports World Cup champion, the statement said.

Prince Mohammed is said to be an avid gamer partial to Call of Duty, and Saudi Arabia has invested heavily in the sector since the 38-year-old became first in line to the throne six years ago.

Sports, esports and gaming have been part of the crown prince’s transformation plan, known as Vision 2030, in which the government is pouring hundreds of billions of dollars to diversify the kingdom’s economy and reduce its reliance on oil.

Saudi Arabia’s Savvy Games Group, owned by sovereign wealth fund PIF, said last year it will invest 142 billion riyals ($37.8 billion) in initiatives aimed at making Saudi Arabia a global hub for gaming.

Under the plan, the kingdom aims to set up 250 games companies locally, which will create 39,000 jobs, and raise the sector’s contribution to Saudi GDP to 50 billion riyals by 2030.

“The Esports World Cup is the natural next step in Saudi Arabia’s journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry,” the crown prince was quoted in the statement as saying.

Under the plan, the kingdom aims to set up 250 games companies locally, which will create 39,000 jobs, and raise the sector’s contribution to Saudi GDP to 50 billion riyals by 2030.

“The Esports World Cup is the natural next step in Saudi Arabia’s journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry,” the crown prince was quoted in the statement as saying.

The first edition of the eSports World Cup will take the place of the eight-week Gamers8 festival of eSports tournaments and it is projected to create 39,000 eSports-related jobs by 2030.

The Star