The GCC will account for about 1.5 per cent of the global gaming market revenue by 2025, the report adds. It places Saudi Arabia in the 19th position globally in gaming revenues in 2019, at an estimated $837m. The sector is expected to grow at a 22.5 per cent CAGR over 2019-2025.
The UAE on the other hand ranks as the 35th largest gaming market in the world in terms of revenue as of 2019. Gamers in the UAE spend an average of 30 minutes per day on mobile games, the report added.
Revenues from the global gaming industry are estimated to be larger than those of worldwide box offices, music streaming and album sales combined. To tap into this potential does however require substantial investment in infrastructure – both virtual and physical, a fact not lost on regional policymakers and investors. Existing and planned facilities put the GCC at the centre of this multi-billion-dollar industry.
In Saudi Arabia, the upcoming $500bn hi-tech city of NEOM will have dedicated gaming/esports facilities, after the developer signed a memorandum of understanding with the Saudi Arabian Federation of Electronic and Intellectual Sports (SAFEIS).
In Dubai, the TECOM Group plans to put up the Dubai X-Stadium, a dedicated esports venue it hopes will establish the emirate as a regional and global hub for hosting gaming events. Technical details have not been released, but renders envisage a futuristic stadium shaped like a giant overturned cone, connected by arcades catering to the wider ecosystem.
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