Friday, May 24, 2024

Saudi Arabia Launches Esports World Cup with Largest-Ever Prize Pool in Gaming History

Saudi Arabia is set to host an annual Esports World Cup, featuring popular video games and the largest prize pool in esports history.

This tournament will commence in 2024 and aims to become a recurring event in Riyadh. Various clubs will participate in different game genres to compete for the title of Esports World Cup champion.

The initiative is part of Saudi Crown Prince Mohammed bin Salman’s Vision 2030 plan, which includes significant investments to diversify the Saudi economy and reduce its reliance on oil.

Savvy Games Group, owned by Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF), is investing heavily to position the country as a global gaming hub.

Saudi Arabia intends to establish 250 domestic gaming companies, creating jobs and boosting the gaming sector’s contribution to the GDP. The Esports World Cup aligns with the goals of Vision 2030, aiming to enhance tourism, create jobs, and offer entertainment for residents and visitors.

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