Saudi Arabia said on Monday 23 October, 2023, it was launching an annual Esports World Cup.
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| Saudi Arabia Crown Prince, Mohammed bin Salman, alongside President of FIFA, Gianni Infantino, at the official announcement of Esports World Cup in Saudi Arabia. Photo: Saudi Press Agency/Handout via REUTERS |
The annual Esports World Cup will encompass the most popular games in the world and have the largest prize pool in the history of Esports.
Kicking off summer 2024, the competition will be held annually in the city of Riyadh, Saudi Arabia Crown Prince, Mohammed bin Salman said in a statement.
According to Reuters:
Clubs will compete across games from various genres to become the ultimate Esports World Cup champion, the statement said.
Sports, esports and gaming have been part of the crown prince’s transformation plan, known as Vision 2030, in which the government is pouring hundreds of billions of dollars to diversify the kingdom’s economy and reduce its reliance on oil.
Saudi Arabia’s Savvy Games Group, owned by sovereign wealth fund PIF, said last year it will invest 142 billion riyals ($37.8 billion) in initiatives aimed at making Saudi Arabia a global hub for gaming.
Under the plan, the kingdom aims to set up 250 games companies locally, which will create 39,000 jobs, and raise the sector’s contribution to Saudi GDP to 50 billion riyals by 2030.
“The Esports World Cup is the natural next step in Saudi Arabia’s journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry,” the crown prince was quoted in the statement as saying.
The competition will help achieving Vision 2030 objectives by boosting tourism, creating jobs and providing entertainment for residents and visitors, he added.
