Saudi Arabia is soon going to make major investments in e-sports and computer games at the state level. This was reported in a press release published by Savvy Gaming Group – An organization that receives funding from a country's government fund. The amount of 38 billion is planned to be divided into several parts. The funds will be used to invest in shares in the computer games industry, purchase publishing houses and conduct various events. $500 million will be used directly to promote eSports.
Investments in this industry – one element of Saudi Arabia's economic diversification plan. Currently, the main source of its income is the export of hydrocarbons, but in the next decade the government expects to change this situation by increasing the share of other sources of income, in particular in the tourism and financial sectors.
At the beginning of 2022, Savvy Gaming Group already attracted the attention of eSports fans - it acquired ESL and FACEIT. Now both companies operate under a single name called ESL FACEIT Group.
