Saudi Arabia is one of the biggest economies in the world and is highly popular among tourists. However, most of its economy is based on its oil reservoirs, which Saudi Officials are trying to change. The royal family in command is now expanding their business ventures to the gaming industry, which is already a billion-dollar business.
Saudi Arabia is now planning to build a new and high-tech Esports hub for gamers all over the world. The plan is estimated to be completed by the year 2030, which is completely based on attracting all types of gamers in the same place. Faisal Binhomran, Esports head of the Saudi Esports Federation in the MSummit, Manila, expressed their plan for expanding their gaming ventures.
Binhomran also mentioned that the gaming industry has a lot of potential and is enriched with profits, which is why they are investing in it. Now, Saudi Arabia is clearly setting aside the focus on its fuels and starting to expand its business sectors in gaming, tourism, and other money-drawing sectors. This sudden change marks a new dimension for their economy and can prove to be an effective step toward tourism as well.
Now, for the infrastructure of this plan, Saudi Arabia has targeted Esports games and plans to build a Qiddiya City for the Esports industry. In order to give shape to their plan, Saudi Arabia has established the Saudi Esports Federation (SEF) and has instated HRH Prince Faisal Bin Bandar Al Saud as the chairperson of the board of directors.
Global Partnerships Of Saudi Esports Federation
Now, when it comes to global partnerships, SEF has already gained the partnership of SGG (Savvy Games Group). In addition to that, they have signed a MOU (Memorandum Of Understanding) with the Japan Esports Union (JeSU). Usually, the investment part is an easy thing for Saudi Arabia, but the global partnership is necessary to attract global gamers and players to their establishment.
Not only JeSU and SGG, the Saudi Esports Federation has also partnered with KFC, Saudi Telecom Company, Razer, and many others to reach their goal strictly by the year 2030.
National Gaming And Esports’ Gamers8 Event
Last year’s Gamers8 Event was a huge success and has helped in attracting international investors to SEF. This was one of the biggest events in history and has attracted thousands of gamers to their tournaments since then. Now, Saudi Arabia has also declared that they will exchange the name of Gamers8 with the Esports World Cup soon. As the country is taking its tourism to the next level, they are investing in the gaming sector along with entertainment and other events coinciding with the Gamers8 event.
The establishment of SEF and grabbing the gaming industry in Saudi Arabia’s palms seems to be their plan by 2030. The federation and events are estimated to generate a whopping 39,000 new direct and indirect employment as well. The Gamers8 event was the largest event with the largest prize money of 40 Million for winners. That’s the reason Esports can play a crucial role in their expectation to enrich their economy in different sectors, like attracting global tourism and expanding their economic resources.
