The Crown Prince of Saudi Arabia made a historic statement on the first Esports World Cup, which will begin in the summer of 2024 in Riyadh.
The Crown Prince of Saudi Arabia made a historic statement on the first Esports World Cup, which will begin in the summer of 2024 in Riyadh. According to the official Saudi Press Agency, this tournament, which is being billed as the biggest of its kind, will include the biggest prize pool in the history of esports along with the most well-liked titles across many genres.
The Crown Prince emphasized the significance of the Esports World Cup in elevating Saudi Arabia’s stature as a global epicenter for gaming and esports. He stated, “The competition will enhance our progress towards realizing the Vision 2030 objectives of diversifying the economy, growing the tourism sector, creating new jobs in various industries, and providing world-class entertainment for citizens, residents, and visitors alike.”
This momentous announcement was made during the New Global Sport Conference, where prominent figures from the realms of sports, gaming, and esports converged in the Kingdom to discuss and promote the future of these industries.
The tournament aims to transform Riyadh into a veritable gaming capital, capitalizing on the widespread passion for gaming among the Saudi youth. The success of homegrown esports ventures, including the inaugural and subsequent editions of GEMERS8, lays a strong foundation for this ambitious endeavor.
While additional specifics about the competition are set to be unveiled in early 2024, the overarching goal of the Esports World Cup is to significantly boost the gaming sector’s contribution to Saudi Arabia’s Gross Domestic Product (GDP). The tournament is projected to add over SAR 50 billion to the GDP and generate approximately 39,000 new jobs by the year 2030.
Moreover, the strategic timing of the competition during the summer months aligns with the objective of bolstering tourism. During this period, Saudi Arabia typically experiences a 16 percent decrease in hotel occupancy rates, an 18 percent dip in tourism spending, and a 13 percent decline in restaurant and cafe expenditures, according to data from the Saudi Press Agency.
The Esports World Cup represents a monumental stride towards realizing the ambitious Vision 2030 plan, which envisions a diversified and dynamic Saudi economy, driven by innovation and technology. By leveraging the immense popularity of esports, Saudi Arabia is poised to harness the economic and cultural potential of this rapidly growing industry.
As the global esports community eagerly anticipates the inaugural Esports World Cup, it is poised to become a pivotal milestone not only for Saudi Arabia but for the broader esports landscape, underscoring the Kingdom’s commitment to pushing the boundaries of entertainment, innovation, and economic growth.