Saudi Arabia Is Investing $38 Billion to Become a Video-Game Hub
Kingdom's Savvy Games Group wants to develop game titles locally
Riyadh, Saudi Arabia.
Photographer: Waseem Obaidi/Bloomberg
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The Saudi Arabian government is betting $38 billion on the country’s potential to become the next hub for the video-game industry.
As part of its strategy to diversify its economy away from oil, Saudi Arabia, through its Public Investment Fund, wants to become a big player in the $184 billion global gaming market. After focusing initially on the esports industry, which has been struggling, the fund’s subsidiary, Savvy Games Group, is now looking to develop, publish and acquire top-tier games and support a gaming industry in Riyadh.