The Kingdom of Saudi Arabia is planning to host the first-ever Olympics Esports Games in 2027 in its $38 billion city exclusively built for gamers.
Saudi Arabia’s crown prince Mohammad bin Salman said that he has loved gaming since his childhood, adding, “video games disconnect me from reality”.
In an interview with Fox News two years ago, MBS said that Esport is a growing industry and it grows by 30 per cent every year, adding that the return on the Public Investment Fund (PIF) has been 15 to 20 per cent annually.
Saudi Arabia announced its Gaming and Esports city in Qiddiya City in 2022 and now the investment for it has reached about $38 billion.
The Kingdom’s city for gamers features four esports arenas, expected investments from 250 gaming companies and it is set to host the first ever Olympic Esports games in 2027.
Riyadh based Savvy Games Group is at the helm of the project. The investment aligning with the Saudi’s 2030 vision could add 13.3 billion dollar to Saudi’s GDP within next five years.
Saudi Arabia plans to establish itself as a leader in the esport industry which MBS is competing with Hollywood.
With 89 per cent of the Kingdom’s population engaged in gaming aim to dominate this frontier.
The gaming and esport industry is one of the fastest growing industries in the world with its revenue expected to reach $312 billion by 2027.
