Saudi Arabia is set to host the First E-Sports World Cup in 2024 with the largest prize pool in esports history and with a focus on becoming a global gaming hub valued at $13.3 billion and creating 39,000 jobs.
Saudi Arabia is stepping into the global gaming limelight with an announcement that promises to revolutionize the esports sector. Saudi Arabia will host the 2024 Esports World Cup as it looks to create 39,000 job opportunities in an emerging sector.
The Dawn of the Esports World Cup
Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince and Prime Minister of Saudi Arabia, made the grand unveiling of the Esports World Cup. The event will be hosted in Riyadh starting in the summer of 2024, setting a new precedent in esports.
Gaming Sector Boost
The Esports World Cup is the most significant event, offering a platform to support and enhance the gaming and esports sector. This initiative is expected to fortify Saudi Arabia’s position as an international hub for esports competitions.
The news was announced at the “New Global Sports Conference,” an event hosted by the Kingdom that welcomed high-ranking officials and global leaders from the sports, gaming, and esports sectors.
The Vision Behind the Esports World Cup
The Crown Prince underscored the significance of the Esports World Cup during his announcement. According to him, the event is the next logical step in Saudi Arabia’s journey to become the leading global hub for gaming and esports.
The World Cup is expected to enrich the Kingdom’s progress towards realizing its Vision 2030 objectives, which include diversifying the economy, promoting tourism, creating new jobs across various industries, and providing world-class entertainment for both citizens and visitors.
Developing the Esports Sector
[Image Credit: Saudi Sports Federation]
The inception of the Esports World Cup mirrors the Kingdom’s consistent efforts to nurture and develop the esports sector. It also highlights the Kingdom’s ambition to expand the entertainment and sports industries domestically and internationally.
The tournament is also expected to tap into the gaming enthusiasm of Saudi’s predominantly youthful population, building on homegrown esports successes like the first and second editions of GAMERS8.
A Strategic Move
The Esports World Cup is more than just a tournament; it’s a strategic move towards accelerating the realization of the National Gaming and Esports Strategy.
The strategy aims to increase the sector’s contribution to Saudi Arabia’s GDP by over SR50bn ($13.3bn) by 2030 and create 39,000 fresh job opportunities.
Player Growth Ecosystem
The Cup will provide an enabling environment for the growth and sustainability of players, clubs, and the industry. It will include the most popular games worldwide across all genres, offering the largest prize pool in esports history.
The tournament will also feature a unique cross-game competition format to reward and incentivize clubs that rise to the challenge to become the ultimate Esports World Cup Champions. This initiative is expected to support the growth and sustainability of all eSports clubs.
Transforming Riyadh into a Gaming Capital
In addition to the competition, the Esports World Cup will also host various activities and events designed to attract visitors and tourists, transforming Riyadh into a gaming capital.
The indoor tournament will also be a key attraction to boost Saudi tourism during the summer, a season typically seeing a drop in tourism spending and hotel occupancy rates. The Esports World Cup Foundation is expected to reveal more details about the event early next year.
A Platform for the Future
The Esports World Cup signifies a momentous development in the esports industry. It’s expected to draw a large audience and generate substantial revenue, providing a platform for gamers worldwide to compete and showcase their talents.
Establishing the Esports World Cup Foundation is a positive step towards increasing collaboration between esports stakeholders and developing the talent pool in the region.