Saudi Arabia has revealed its ambitious plan to construct an esports city in Riyadh, the nations capital which is expected to be completed in 2024.
This move is aimed to diversify from only oil and petroleum products as major exports and dive into esports gaming which is estimated to have a value of $1 billion. Also, this part of the Saudi Vision2030 program.
Under the direction of Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Vision 2030 includes a thorough strategy that focuses on the gaming and esports sectors. In addition to providing top-notch entertainment for locals and visitors, the objective is to create employment opportunities across numerous industry.
The esports city wants to establish itself as a top location for large-scale events and tournaments, with an amazing budget of US$500 million earmarked for this project. It can accommodate up to 20,000 spectators.
The city is part of Saudi Vision 2030 plan, which aims to diversify the country’s economy away from oil. The plan also includes a focus on developing the country’s gaming industry, which is already worth an estimated $1 billion. The e-sports city is expected to attract major e-sports teams and players from around the world. It will also provide a platform for local talent to develop and compete on the global stage. The city is scheduled to be completed in 2024.
The development of the e-sports city in Saudi Arabia presents a number of opportunities for investors and e-sports makers.
For investors, the city represents a chance to get involved in a growing industry with a large potential audience. The global e-sports market is expected to be worth $1.6 billion (£1.25 billion/€1.4 billion) by 2023, and Saudi Arabia is one of the fastest-growing markets in the world.
For e-sports makers, the city provides a new platform to showcase their skills and compete on the global stage. The city will host a variety of e-sports events, including the World Cyber Games, which is one of the largest e-sports tournaments in the world.Mohammed AlQahtani Chief executive of Saudi Arabia Holding Company
Despite the city’s planned 2024 completion date, the local administration is already looking forward to the chance to host the World Cyber Games, an annual esports competition that features a variety of game titles and draws competitors from all over the world.
The World Cyber Games were held annually from 2000 to 2013, but were discontinued before two editions in 2019 and 2020.
In the past, it has been held in South Korea, the US, Singapore, Italy, Germany, and China; however, Saudi Arabia’s proposed hosting of it in the future will be the first time it has ever been held in the Kingdom.