The Clap KSA is pushing the e-sports sector to contribute SAR 50 billion ($13.3 billion) to the country’s GDP by 2030, as part of the strategy for this sector launched by Crown Prince Mohammed bin Salman.
The Deets The strategy aims to create more than 39,000 direct and indirect job opportunities in sports and electronic games in addition to producing more than 30 competitive games globally in KSA’s studios.
KSA also wants to be one of the top three countries in the number of professional players for e-sports, according to the Saudi Press Agency (SPA).
Interest in Electronic Games The state’s interest in electronic games is clear, after the investments made by the Public Investment Fund (PIF) in international companies in the sector.
The most recent of these investments was the fund’s acquisition of a 5.01% stake in the Japanese video game company “Nintendo” last May.
The PIF also owns about 37.9 million shares in Activision Games Inc., which Microsoft shareholders agreed to sell.
Financing Earlier this month, the Saudi Fund for Development (SFD) revealed the allocation of SAR 300 million to the gaming and esports sector financing program for the purpose of financing games and esports in the country.
This is done through development funds and banks, in partnership with financial institutions in the private sector.