Crown Prince launches Esports World Cup

Launch of Esports World Cup

Crown Prince Mohammed bin Salman announced today, Oct. 23, the launch of the Esports World Cup to be held annually in Riyadh starting summer 2024.

The event will serve as a platform that supports the gaming and esports sector and consolidates Saudi Arabia’s position as a hub for international esports, the state-owned SPA reported.

The Crown Prince also announced the establishment of the Esports World Cup Foundation, as a non-profit organization to increase collaboration between esports stakeholders.

“The Esports World Cup is the natural next step in Saudi Arabia’s journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry,” the Crown Prince said.

The launch of the tournament is expected to materialize the goals envisioned in Saudi Arabia’s National Gaming and Esports Strategy. The strategy aims to increase the sector’s contribution to the Kingdom’s gross domestic product (GDP) by more than SAR 50 billion by 2030, create 39,000 new job opportunities and transform Riyadh into a capital of e-gaming.

The tournament will be complemented with a diversified set of activities and events that will draw visitors and tourists to Riyadh during summer.

The indoor tournament is also planned as a key attraction to help bolster Saudi tourism during the summer. This opportunity is significant since Saudi experiences an average 16% drop-in hotel occupancy rates, an 18% decrease in tourism spending, a 13% drop in restaurant and cafe spending, and a 9% drop in consumer purchasing power during the summer.

The Esports World Cup reaffirms the Kingdom’s continuous effort to sustain and grow the esports sector, as well as its ambitions to expand the entertainment and sports industries at home and abroad. The tournament also builds on the gaming passion seen in Saudi Arabia’s youth-majority population, and on homegrown esports successes such as the first and second editions of GAMERS8.

Further details will be revealed by the Esports World Cup Foundation in early 2024.