Saudi Arabia is diversifying its investments trying to go beyond its image as an oil country. One of the bets is in the entertainment sector, through professional football, technology and video games. To show that this is serious, they will also invest in esports in search of having one of the capitals of the competitive scene.
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Saudi Arabia to invest millions in an esports city
According to a report from One EsportsSaudi Arabia confirmed the construction of a sports city dedicated to esports in Riyadh in a project that will be ready sometime in 2024. The budget for this esports capital is $500 million and with it it seeks to attract competitive scenes as well as the entire structure of media, fans and tourists that it is capable of moving, in fact it is expected that this complex dedicated to esports will receive 20,000 visitors.
According to the information, the esports city of Riyadh is part of the ambitious Saudi Vision 2030 initiative, which seeks to turn the country into one of the most important technological and entertainment venues in the world. In this regard, Mohammed AlQahtani, director of Saudi Arabia Holding Co., said: “It is a sign of the country’s commitment to developing the industry and becoming a global center for electronic sports. The city is expected to attract the main esports teams and players from around the world, and will provide a platform for local talent to develop and compete on the global stage.”
Esports will be a key part of the Saudi Vision 2030 project
Likewise, Saudi Vision 2030 seeks to diversify the economy of Saudi Arabia by reducing dependence on oil and opening the country to investment, business proposals and forms of entertainment. That is exactly where the rise of esports and the objective that the government of this country has set itself becomes relevant.
In recent years, Saudi Arabia has increased its presence in the video game industry through investments in companies such as Nintendo, Electronic Arts, Embracer and Take-Two Interactive and is expected to soon start making waves for its support of development projects. .
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