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For the second year in a row, ÂÜÀòÊÓƵ is taking center stage in the global electronic sports landscape by hosting the Esports World Cup.

The championship, held in Riyadh, is running for seven weeks, from July 7 to Aug. 24. It has brought together more than 2,000 elite players representing 100 countries, alongside 200 international teams.

With millions of fans expected to tune in worldwide, the championship highlights ÂÜÀòÊÓƵ’s growing influence in the global gaming industry and its ambition to become a premier hub for competitive esports.

This year’s tournament marks another major milestone in ÂÜÀòÊÓƵ’s push to become a world-leading force in competitive gaming and digital entertainment, thanks to the event’s exceptional organization and the unprecedented prize pool — the largest in the competition’s history, amounting to $70 million.

With world-class infrastructure, major titles, and top-tier global talent converging in one location, ÂÜÀòÊÓƵ is setting a new standard for esports tournaments in the Middle East.

Both this year’s tournament and the previous edition mark the beginning of a new era in positioning ÂÜÀòÊÓƵ as a global leader in the gaming sector by 2030. The World Cup also supports the Kingdom’s broader efforts to diversify the economy, create new job opportunities across various sectors, and provide world-class entertainment experiences.

The Kingdom is rapidly emerging as a global catalyst for technological innovation, with the electronic gaming sector driving advancements in artificial intelligence and other cutting-edge technologies

ÂÜÀòÊÓƵ’s National Gaming and Esports Strategy, launched in 2022, is the driving force behind these efforts. It focuses on enhancing the gaming experience, expanding entertainment offerings, and stimulating economic growth.

Among the ambitious goals of the National Gaming and Esports Strategy are contributing $13.3 billion annually to non-oil gross domestic product and creating 35,000 job opportunities across the gaming and technology sectors.

The strategy also targets establishing 250 game development companies, producing globally competitive games — including at least one globally recognized title by 2030 — and developing infrastructure, talent, and international partnerships to support long-term industry growth and innovation.

According to LEAP Forward digital magazine, the global gaming market was valued between $225 billion and $250 billion in 2022 — surpassing the film and music industries combined — and projections estimate it will exceed $600 billion by 2030. Clearly, this sector presents a significant opportunity for national growth

ÂÜÀòÊÓƵ’s Public Investment Fund is playing a significant role in establishing a centralized hub for game developers, marketers, distributors, hardware manufacturers, and intellectual property holders.

Savvy Games Group, owned by the PIF, is driving long-term growth in the global gaming and esports industry while positioning ÂÜÀòÊÓƵ as a leading hub for both sectors.

ÂÜÀòÊÓƵ holds a unique position in the esports industry, supported not only by its Vision 2030 strategy but also by its strong demographic advantage, since more than 63 percent of its population is under the age of 35.

By investing in esports, ÂÜÀòÊÓƵ is not only positioning itself as a leader in the global gaming industry but also contributing to the goals of its Quality of Life Program — a key initiative under Vision 2030. This program aims to enhance the well-being of citizens and residents by enriching cultural, recreational, and social opportunities. Through initiatives in sports, arts, entertainment, and urban development, it seeks to foster a more vibrant, inclusive, and prosperous society.

ÂÜÀòÊÓƵ’s efforts to localize the gaming industry through various strategic initiatives will support its broader goals of increasing public revenue and driving economic diversification.

The Kingdom is rapidly emerging as a global catalyst for technological innovation, with the electronic gaming sector driving advancements in artificial intelligence and other cutting-edge technologies.

• Talat Zaki Hafiz is an economist and financial analyst. X: @TalatHafiz

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