JEDDAH: Saudi Arabia captured 20 percent of the Middle East and North Africa’s gaming revenues in 2024, generating $1.2 billion, as the Kingdom leverages its Vision 2030 strategy to transform the industry into a major economic sector.
With over 2.85 billion players across the world and an audience exceeding 640 million as of last year, the games and esports industry has emerged as the fastest-growing sector in entertainment, according to Savvy Games’ 2024 report, which added that the sector is projected to see growth from 2023 to 2028 that will surpass that of film, live sports, and music and radio.
Three years ago, Saudi Arabia launched a national strategy for gaming and esports, making the sector one of 13 strategic priority industries under Vision 2030. The initiative aims to create 39,000 new jobs and contribute $13.3 billion to gross domestic product by the end of the decade.
Under the chairmanship of Crown Prince Mohammed bin Salman, Savvy Games forms a key pillar of Saudi Arabia’s strategy to position itself as the leading global hub for gaming and esports by 2030.
“In 2024, the sector was projected to generate over $187 billion, representing over 2.1 percent year-on-year growth, illustrating its scale and adaptability. The sector’s universal appeal and rapid evolution have positioned it as the leading driver of innovation and audience engagement across the entertainment landscape,” the report added.
According to Mordor Intelligence, the global gaming market is projected to reach $269.06 billion in 2025 and $435.44 billion by 2030, reflecting a compound annual growth rate of 10.37 percent.
Mordor noted that rapid mobile adoption, the spread of 5G, and cloud streaming are drawing new participants into every part of the value chain, accelerating revenue diversification and platform convergence.
Data in the Savvy report showed that Saudi Arabia’s gaming market generated approximately $1.19 billion in revenue in 2024, with projections to reach $1.64 billion by 2028, representing a CAGR of 8.2 percent.
“This growth is being driven by strong performance across all game segments, with 2023-28 CAGRs estimated to be 8.27 percent for console, 7.29 percent for mobile, and 4.01 percent for PC,” the report added.
The broader MENA region is also set to show significant growth, with video games revenue expected to see a CAGR of 7.3 percent from 2024 to 2027, reaching $5.62 billion in 2024 and $6.94 billion by 2027.
The report noted that Saudi Arabia is spearheading this growth, leading the MENA region with the highest gaming revenue — $1.19 billion in 2024 — and a gamer base exceeding 25.81 million.
“Central to this growth is the National Gaming and Esports Strategy, aligned with Saudi Vision 2030. The NGES aims to harness the creativity and energy of the Saudi population to propel the sector forward,” the report said.
Savvy Games, established by Saudi Arabia’s Public Investment Fund, has been instrumental in this growth.
Its subsidiary, Scopely, ranked second globally among gaming companies, with its hit Monopoly Go! generating $3 billion in revenue and earning the “Game of the Year” title at Pocket Gamer Mobile Games Awards 2024.
Scopely’s total revenues have reached $10 billion since its founding in 2011, supported by expanding titles like Stumble Guys onto platforms such as Xbox One and Xbox Series X/S.
Other Saudi-owned subsidiaries include ESL FACEIT Group, Steer Studio, Embracer Group, with 8.1 percent stake, Hero Esports, 30 percent stake, and G1riffin, highlighting the Kingdom’s growing footprint in global gaming and esports.
Brian Ward, CEO of Savvy Games, described 2024 as “another hugely successful year,” adding: “When it comes to progress against our strategy, there has been one core theme that has run throughout all our operations: impact.”
He said that this has been evident across all our strategic pillars — game development and publishing, esports, and the KSA ecosystem — with teams in Saudi Arabia and worldwide consistently delivering outstanding products, experiences, and opportunities for the global gaming community.
Riyadh hosted the inaugural Esports World Cup from July 3 to Aug. 25, 2024 featuring 1,500 athletes competing in 23 tournaments across 22 games. With a prize pool of over $60 million, the event highlighted Saudi Arabia’s push to become a top global esports destination.
