Saudi Arabia is investing $38 billion to draw in gamers
Saudi Arabia has set its sights on becoming a leading force in the world of video games
The Saudi Arabian government is investing $38 billion in the video game industry, with the project being led by the esports company, Savvy Gaming Group. The Sovereign Fund Public Investment Fund of the country created this gaming group.
Savvy Gaming will release high-budget games and acquire international game studios to help Saudi Arabia become a worldwide leader in the entertainment software sector by 2030. Additionally, the government intends to attract international athletes who are currently hesitant to participate in local events due to human rights issues.
About 21 million people in Saudi Arabia play computer games, accounting for around 58% of the population. In comparison, this figure is 66% in the United States.
Previously, Savvy Gaming has invested in Tencent Holdings and Activision Blizzard, while the Public Investment Fund has become the largest shareholder of Nintendo.
