Saudi Arabia Crown Prince Introduces Esports World Cup 2024
Saudi Arabia’s Crown Prince Mohammed bin Salman has announced the launch of the Esports World Cup to be held annually in Riyadh starting summer 2024. This announcement was made at The New Global Sport Conference in Riyadh, signaling Saudi Arabia's ambition to become a major player in the world of gaming and esports.
The Esports World Cup's primary goal is to establish Saudi Arabia as a leading global hub for gaming and esports. This move underscores the nation's commitment to economic diversification, with a strong emphasis on boosting the tourism and entertainment sectors. The Crown Prince himself declared, "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."
In addition to the tournament, Crown Prince Mohammed bin Salman introduced the Esports World Cup Foundation, a non-profit organization focused on promoting collaboration within the esports community and ensuring the long-term sustainability of the sector. This marks a pivotal moment in Saudi Arabia's journey to become a central figure in international esports and sports competitions.
The launch of the Esports World Cup is expected to align with the objectives outlined in Saudi Arabia's National Gaming and Esports Strategy. The strategy aims to significantly contribute to the country's gross domestic product, targeting over SR50 billion (equivalent to $13.3 billion) by 2030 and the creation of 39,000 new job opportunities.
Furthermore, as per projections, the esports market in Saudi Arabia is on a promising trajectory. Revenue in the Esports market in Saudi Arabia is projected to reach US$8.6 million in 2023, with an expected annual growth rate (CAGR 2023-2027) of 13.87%. This growth is anticipated to result in a market volume of US$14.5 million by 2027. Additionally, the number of Esports market users in Saudi Arabia is expected to grow, reaching 3.9 million users by 2027.
The development of the esports sector is of great importance to Saudi Arabia, as the nation is actively diversifying its economy in line with the goals set out in Vision 2030. The annual esports event is also anticipated to drive increased tourism to the country.
The Esports World Cup will feature a range of popular games across different genres and will offer the largest prize pools ever seen in esports history. Additionally, the event will include a diverse array of activities and attractions for attendees.
Further details about the event will be disclosed by the Esports World Cup Foundation in the early months of 2024.
How Royex Can Help With Esports Game Development
Royex is an invaluable partner in the realm of game development, offering a wide array of services and solutions that can significantly enhance the development process. Royex's skilled team can create captivating and immersive game worlds, ensuring stunning visuals and seamless gameplay. They also provide robust software development services, helping to optimize game performance and functionality. What truly sets Royex apart is their ability to adapt to the ever-evolving gaming landscape, staying up-to-date with the latest technologies and trends to ensure that the games they help create remain competitive and engaging. Whether it's designing the tournament's official game, developing mobile apps for real-time updates, or creating interactive elements to enhance the overall gaming experience, Royex Technologies has the technical prowess and creative flair to contribute to every aspect of the Esports World Cup.
For any kind of query about website & mobile application development in Dubai, connect with us via email at info@royex.net or call us at +971 56 602 7916 with your specific requirements