Gaming consumption in Saudi Arabia, the Arab world's largest economy, is projected to reach $6.8 billion by 2030, according to a Boston Consulting Group report.
Along with eSports, the sector – a growing powerhouse with about three billion active participants globally – is poised to generate substantial revenue, high-quality jobs and various reputational benefits in the kingdom, where consumption is expected to grow at a compound annual rate of 22 per cent through 2030 from $959 million in 2020, the consultancy said.
“From a Saudi standpoint, these growth projections undoubtedly bode well for the local gaming and eSports community. Despite the kingdom being a relatively recent entrant to this space, the industry is vibrant and fast-growing, nevertheless," said Povilas Joniskis, a partner at BCG.
Gaming has become big business, with new-age technologies providing both an opportunity to reach a wider audience and develop new titles to cater to consumer demand. The latest report from gaming data provider Newzoo showed that the industry is projected to generate total revenues of about $180bn in 2021, up 1.4 per cent from 2020.
Console and PC platforms are expected to see slight declines, but the mobile segment is likely to record another growth year, with revenues up 7.3 per cent year on year to $93.2bn, accounting for 52 per cent of the overall market, the group said.
The eSports segment, meanwhile, had its biggest year in 2021, with a viewership of 465.1 million people, up 6.7 per cent year on year. Raising investments remains a vital part of the business model for teams and organisations, BCG said.
Revenue for eSports is expected to jump almost 50 per cent to $1.62bn in 2024 from more than $1.08bn last year, according to Statista.
A milestone for eSports was when FaZe Clan announced in October that it would go public through a special purpose acquisition company, or Spac, at a $1bn valuation, the first time an eSports organisation raised capital from the public market, making it the first eSports unicorn.
Even venture capital funds, which traditionally stay away from the gaming segment, are taking notice. The top 15 VC funds dedicated to gaming now have almost $2.8bn in assets under management, according to December data from advisory company Games One.
And in a sign of a heated battle in the industry, Microsoft last week announced it was buying Call of Duty maker Activision Blizzard in a $68.7bn all-cash deal, making it the third-largest gaming company in the world.
Saudi Arabia is currently home to 23.5 million gaming enthusiasts, which is about 67 per cent of its population, according to the BCG report. Moreover, 90 per cent of gamers – about 21.1 million – already play eSports titles on a semi-pro or amateur basis, with about 100 professional eSports players pursuing this as a full-time career.
But while there is much potential in the Saudi gaming industry, a number of challenges await because the ecosystem is in an early development stage compared with other international markets, BCG said.
These include a lack of funding to compete full time, scarcity of local competition, no clear pathway for gamers to become professional and social stigma associated with choosing a career in gaming and eSports.
"Passionate gamers are primarily powering its growth and popularity at present, and it is more than feasible for them to embark on full-time careers and become involved on the international stage. Yet first, key barriers concerning aspiring Saudi competitors and professionals must be overcome," Mr Joniskis said.
From a Saudi standpoint, these growth projections undoubtedly bode well for the local gaming and eSports community. Despite the kingdom being a relatively recent entrant to this space, the industry is vibrant and fast-growing, nevertheless
Povilas Joniskis,
partner at Boston Consulting Group
This, however, provides an opportunity for the government to capitalise on the widespread popularity for gaming and translate the current high level of consumption intensity to a corresponding production intensity.
“When examining gaming and eSports in Saudi Arabia, we see interest in the industry growing among the government and less traditional business players alike,” Mr Joniskis said.
“By focusing on areas for improvement and approving the necessary investments across specific segments, the kingdom’s economy, reputation, jobs market and talent pool – all stand to reap the rewards.“
BCG highlighted the role of the gaming and eSports industry in Riyadh's future-focused Vision 2030 development programme, and the government is taking notice, throwing more support to organisations.
Riyadh-based Manga Productions, a part of the Misk Foundation that was founded by Saudi Crown Prince Mohammed bin Salman, provides funding and financial support, as well participating in education and talent attraction efforts.
The Ministry of Communications and Information Technology and the DigiPen Institute of Technology, a game design academy, recently teamed up to launch the Game Changers programme, designed to provide “unique career pathways for entrepreneurs in the Saudi game industry” and increase the number of independent game company start-ups.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The years Ramadan fell in May
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
Mohammed bin Zayed Majlis
Turkish Ladies
Various artists, Sony Music Turkey
More from Aya Iskandarani
INDIA SQUAD
Virat Kohli (capt), Rohit Sharma, Shikhar Dhawan, KL Rahul, Vijay Shankar, MS Dhoni (wk), Kedar Jadhav, Dinesh Karthik, Yuzvendra Chahal, Kuldeep Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Hardik Pandya, Ravindra Jadeja, Mohammed Shami
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
Fitness problems in men's tennis
Andy Murray - hip
Novak Djokovic - elbow
Roger Federer - back
Stan Wawrinka - knee
Kei Nishikori - wrist
Marin Cilic - adductor
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
The Case For Trump
By Victor Davis Hanson
Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
Zayed Sustainability Prize
