After Crown Prince Mohammed bin Salman announced the National Gaming and Esports Strategy on Thursday, Saudi Arabia is set to launch a serious transformation phase towards the economies of the gaming industry.
The Strategy aims to contribute to the Kingdom’s GDP by about SAR 50 billion ($13.3 billion) directly and indirectly, experts confirmed.
Moreover, economists told Asharq Al-Awsat that the Strategy will support investors in the gaming and esports sector in drawing a road map through which Saudi Arabia becomes a global hub for the industry.
Raising the quality of life by improving players’ experience, providing new entertainment opportunities, and achieving an economic impact by contributing to the GDP by about SAR 50 billion are the Strategy’s three main objectives.
This will lead to the creation of 39,000 new jobs by 2030.
Saudi Arabia aims to produce more than 30 competitive games in the Kingdom’s studios and become one of the top three countries having the highest number of professional esports players.
Ahmed Al-Shehri, an economist, told Asharq Al-Awsat that the new Strategy would motivate investors to enter the promising sector of gaming and e-sports and achieve huge profits in light of the great demand from the current generations for these games.
According to Al-Shehri, the Strategy is bound to yield a positive effect on the Saudi economy.
The country intends to implement the Strategy through 86 initiatives covering the entire value chain, which was launched and managed by more than 20 government and private entities.
These initiatives are divided into eight focus areas, which include technology and hardware development, game production, e-sports, additional services, and other aspects such as infrastructure, regulations, education and talent acquisition.
The Strategy will meet the aspirations of the gaming community locally and globally by providing new and distinctive job and recreational opportunities, Saudi economic expert Ahmed al-Jubeir told Asharq Al-Awsat.
According to al-Jubeir, the Strategy will create healthy competition among companies to enter this promising and targeted sector in Saudi Arabia.
He noted that companies could achieve huge profits because of the Kingdom having the largest purchasing power in the region.
