April 05, 2023

Saudi Arabia invests $38 billion in the video-game industry

The country's Public Investment Fund has been making a strong bet on this sector in recent years

The growth of the esports industry – and gaming in general – over the last decade is no longer a novelty, not even to the most unknowing of this phenomenon, with the gaming market currently valued at $184 billion.

The Saudi Arabian Public Investment Fund has been one of the main contributors to the industry's growth in recent years. Well-known in the Football world for the recent acquisition of Newcastle United FC (Premier League), the truth is that the organisation did not bet exclusively in the traditional game.

In recent years, the country has invested about $38 billion in the gaming market, with the objective of making Saudi Arabia a big player in the video-game industry.  This decision was based on the high number of gamers in the country, with the last estimates showing a community of 21 million gamers (58% of the country's entire population).

If the growth of the industry has come as a surprise to some, studies suggest that this trend will not stop there. By 2026, the gaming market in the Middle East and North Africa is expected to grow by 56%, increasingly positioning itself as a multi-billion dollar, future-oriented industry.