Saudi Arabia’s Crown Prince Mohammed bin Salman on Monday announced the launch of the E-sports World Cup to be held annually in Riyadh starting summer 2024.
Touted to be the largest global event of its kind, it will serve as a platform that supports the gaming and E-sports sector and consolidates Saudi Arabia’s position as a hub for international E-sports.
The launch of the tournament is expected to materialize the goals envisioned in Saudi Arabia’s National Gaming and E-sports Strategy. The strategy aims to increase the sector’s contribution to the Kingdom’s gross domestic product by more than SR50 billion ($13.3 billion) by 2030 and create 39,000 new job opportunities.
The crown prince also announced the establishment of the E-sports World Cup Foundation, a nonprofit organization to increase collaboration between E-sports stakeholders.
These developments were announced during “The New Global Sports Conference” in the Saudi capital, said a press release.
“The E-sports World Cup is the natural next step in Saudi Arabia’s journey to become the premier global hub for gaming and E-sports, offering an unmatched E-sports experience that pushes the boundaries of the industry,” said the crown prince.
He added: “The competition will enhance our progress toward 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.”
Developing the E-sports sector is very crucial for Saudi Arabia, as the Kingdom is steadily diversifying its economy in line with the goals outlined in Vision 2030.
The annual E-sports event is also expected to increase the tourist inflow to the Kingdom.
The E-sports World Cup will feature several popular games across various genres, and the tournament also boasts to provide the largest prize pools for winners ever offered in E-sports history. Moreover, the event will be complemented by a diversified set of activities and events for people who visit the event.
The press statement added that the E-sports World Cup Foundation will reveal more details about the event in the initial months of 2024.