Saudi Arabia to host Esports World Cup in 2024

[{"selector":"#anim-00b1bc6b-fc44-4548-a7f9-cac5959ae123","keyframes":{"transform":["translate3d(-115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-32eb0e2a-558a-4505-8d95-c0fdf641eaae","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9c068f65-3836-4cb5-b751-f60195bd318b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Saudi Arabia on October 23 revealed plans for conducting an annual Esports World Cup, featuring the world's most popular games and boasting the largest prize pool in the history of esports. Image Credit - Google

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The Esports World Cup is a component of Crown Prince's Vision 2030 strategy, which seeks to diversify Saudi Arabia's economy and lessen its dependence on oil.

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The kingdom's Savvy Games Group, backed by the sovereign wealth fund PIF, declared last year its intention to invest $37.8 billion (Rs. 3.14 lakh crore) in efforts to establish Saudi Arabia as a major gaming center.

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The plan involves founding 250 local gaming firms, generating 39,000 jobs, and increasing the industry's contribution to Saudi GDP to 50 billion riyals (Rs. 1.1 lakh crore) by 2030.

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"The Esports World Cup is the natural next step in Saudi Arabia's journey to become the premier global hub for gaming and esports," said the Crown Prince

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He also noted that the tournament would help promote tourism, create employment opportunities, and offer entertainment for both residents and tourists.

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