Business
The Rise of Saudi Arabia in the Esports World
Discover how Saudi Arabia is making its mark in the esports world, as the kingdom emerges as a prominent player in the global competitive gaming scene. Explore the growth, talent, and impact of Saudi Arabia in this exciting industry.
The fans flooded through the streets of Riyadh, Saudi Arabia, by the thousands, kept cool by mist machines in the 110-degree heat. A 30-foot-tall replica gold trophy towered over onlookers at the city’s center. For a moment, covered in beams of brightly colored light, a country defined by tradition looked futuristic.
It was the inaugural Esports World Cup, a coming-out party for Saudi Arabia’s growing video game industry. As part of its plan to diversify its economy from oil, the Saudi government has said it will invest $38 billion in video games by 2030 through its Public Investment Fund, known as the P.I.F., a wealth fund that manages $700 billion.
The Extravagant Event
- Crowds gathered for the opening ceremony of the tournament in Boulevard City, an entertainment and retail corridor in Riyadh, Saudi Arabia.
- Fireworks were part of the lavish opening ceremony.
- Visitors played with virtual reality headsets at a hall sponsored by Saudi Aramco, the national oil company of Saudi Arabia, at the tournament venue.
The wealth behind that commitment was on full display in Riyadh, the Saudi capital, last week, but the country’s influence in video games now extends far beyond its borders. In what has been a financially difficult year for the industry, which has seen mass layoffs, many of the world’s largest video game companies and influencers have quietly partnered with the oil-rich Saudis.