Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has unveiled the National Gaming and Esports Strategy.
The strategy aims to make the kingdom the global hub for this sector by 2030, which contributes in achieving Vision 2030 objectives to diversify the economy and create new jobs in various sectors, Saudi Press Agency reported.
The strategy includes three main objectives, which include raising the quality of life by improving the players’ experience, providing new entertainment opportunities, and achieving an economic impact by contributing about SAR50bn to the GDP, directly and indirectly. The strategy also aims to create 39,000 new direct and indirect job opportunities by 2030.
The strategy will be implemented through 86 initiatives covering the entire value chain, launched and managed by more than 20 government and private entities. The initiatives include launching business incubators and hosting major events for gaming and e-sports, to establishing educational academies and developing stimulating regulations.
HRH the Crown Prince unveils the National Gaming and Esports Strategy that marks the beginning of a new era toward leading the gaming sector and making Saudi Arabia the global hub for this sector by 2030.https://t.co/c39vCchK1G#SPAGOV pic.twitter.com/AFX15IwtA0
— SPAENG (@Spa_Eng) September 15, 2022
These initiatives are divided into eigh focus areas, including technology and hardware development, game production, e-sports, additional services, and other enabling aspects that include infrastructure, regulations, education, and talent acquisition, as well as financing and financial support, the statement added.
Saudi Crown Prince said: “The National Gaming and Esports Strategy is driven by the creativity and energy of our citizens and gamers, who are at the heart of the strategy. We are delivering on the ambitions of the gaming community in Saudi Arabia and around the world, with an exciting new career, and unique entertainment opportunities; aiming to make Saudi Arabia the ultimate global hub for this sector by 2030.”
The gaming and esports sector is considered the fastest growing among all media sectors and is expected to reach $200bn by 2023.
Earlier this year, Saudi’s sovereign wealth fund took a 5.01 per cent stake in Nintendo Co., marking its third investment in a Japanese games company.
The Public Investment Fund also launched Savvy Gaming Group to develop an integrated ecosystem for the sector.