Saudi Arabia set to outpace Egypt, UAE in gaming market growth
Al-Monitor Pro Members
Middle East Researcher and Analyst
May 17, 2023
The fast-growing Middle East gaming market is drawing the attention of policymakers and investors, and nowhere is this more evident than in Saudi Arabia. The country's Public Investment Fund (PIF) recently pledged $38 billion to develop the local gaming industry. Just this week, it increased its stake in American gaming company Electronic Arts (EA) by 55%. Earlier this month, PIF-backed Savvy Games Group announced a flurry of partnerships and acquisitions, including a $265 million investment in Chinese esports company VSPO and buying US-based game studio Scopely for $4.9 billion. The kingdom is seeking to become a global hub for the gaming industry by 2030. Saudi Arabia’s large youth population and high levels of digital access make it an attractive investment destination for gaming and esports companies. As the industry experiences high levels of growth in the coming years, it should play an increasingly important role in the kingdom’s development strategy even in the face of regional competition from the UAE and Egypt.
Access the Middle East news and analysis you can trust
Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.