Saudi Arabia’s esports and gaming industries are projected to contribute up to $13.3 billion (SAR 50 billion) to the country’s annual GDP by 2030, creating nearly 39,000 jobs, according to a study commissioned by PwC and the Saudi Esports Federation.
In line with Vision 2030, the kingdom introduced its National Gaming and Esports Sector Strategy in 2022, aiming to build a competitive esports ecosystem that supports social and economic transformation.
Turki Alfawzan, CEO of the Saudi Esports Federation, emphasized the importance of this growth: “Through strategic investments and a focus on talent development, we are establishing an ecosystem that will position Saudi Arabia as a global leader in esports. This report highlights the potential of esports not only as a thriving industry but as a crucial pillar in our economic diversification efforts under Vision 2030.”
The Middle East is seeing increasing interest in the esports industry, with both government and private sector investments in infrastructure such as gaming zones, arenas, and international tournaments. In 2023, gaming revenues in the Middle East and Africa reached around $7.2 billion, with Saudi Arabia emerging as a key player in this growth.
In October 2023, Saudi Arabia launched the Esports World Cup, which attracted 500 million viewers worldwide. The inaugural edition, held in Riyadh earlier in August, spanned two months, featuring 22 tournaments across 21 titles with a total prize pool of $60 million.
Additionally, Saudi Arabia is set to host the inaugural Olympic Esports Games in 2025, following a 12-year partnership agreement with the International Olympic Committee (IOC). This partnership aligns with the kingdom’s broader sports growth, having invested heavily in various sports sectors, including soccer, motorsports, boxing, and golf. Since 2018, Saudi Arabia has hosted over 100 international events for both male and female athletes, including esports, football, tennis, equestrian, and golf, drawing more than 2.6 million spectators.
To further accelerate the sports sector’s growth, Saudi Arabia’s Public Investment Fund (PIF) launched SRJ Sports Investments in August 2023. This new company will focus on acquiring sports event intellectual property, commercial rights to prominent sports competitions, and hosting major global events in the kingdom.
PIF is also in talks with key boxing stakeholders to create a new league, potentially transforming the sport’s competitive landscape.
Who Is Turki Alalshikh and What Is His Net Worth? Saudi Royal Offers Mike Tyson $700M to Beat Jake Paul in Rematch
Turki Alalshikh, a prominent figure in Saudi Arabia’s sports and entertainment landscape, has made headlines recently for his bold offer to boxing legend Mike Tyson. Alalshikh, who serves as the Chairman of the General Entertainment Authority of Saudi Arabia, is known for his high-profile investments in sports and entertainment, as well as his close ties to the Saudi royal family. His recent proposal to Tyson highlights his influential role in shaping the kingdom’s expanding sports and entertainment scene.
A Rising Star in Saudi Arabia’s Sports and Entertainment Sector
Alalshikh’s journey began as an ambitious businessman, and he has steadily risen through the ranks, becoming one of Saudi Arabia’s most influential figures in the world of sports and entertainment. Appointed to his position at the General Entertainment Authority (GEA), Alalshikh has been a key player in driving Saudi Arabia’s Vision 2030 initiative, which includes vast investments in sports, entertainment, and tourism.
Under his leadership, the GEA has overseen the organization of large-scale events, including concerts, sports tournaments, and entertainment spectacles, positioning Saudi Arabia as a global hub for entertainment. His influence extends to high-profile sports investments, including major deals with international sports leagues and stars, further elevating the kingdom’s profile on the global stage.
The Bold $700 Million Offer to Mike Tyson
One of Alalshikh’s most talked-about moves occurred recently when he reportedly offered boxing legend Mike Tyson a staggering $700 million to face Jake Paul in a rematch. Tyson, a former world champion, had previously expressed interest in returning to the ring for the right opportunity, and Alalshikh’s proposal is seen as a way to not only bring global attention to Saudi Arabia’s sports ambitions but also to create a landmark event in the world of combat sports.
The offer to Tyson has garnered significant attention, with many speculating that it could kickstart a new era of high-profile boxing events in the Middle East. Alalshikh’s willingness to invest such an enormous sum reflects Saudi Arabia’s determination to secure its place as a major player in the global sports arena, attracting top talent and major sporting events to the region.
Net Worth and Influence
Turki Alalshikh’s exact net worth remains undisclosed, but estimates suggest that it is significant, reflecting his business success and powerful position within Saudi Arabia’s royal circle. With extensive investments in sports, entertainment, and various other sectors, Alalshikh’s wealth is thought to be tied closely to his various leadership roles and high-profile deals in the kingdom.
His net worth is also a reflection of his influence in the kingdom’s ongoing economic diversification efforts under Vision 2030. Alalshikh’s ability to attract top international stars, such as Tyson and other high-profile figures in sports and entertainment, speaks to his business acumen and his pivotal role in reshaping Saudi Arabia’s global image.
The Bigger Picture: Saudi Arabia’s Growing Sports Landscape
Alalshikh’s proposal to Tyson is just one piece of the larger puzzle that is Saudi Arabia’s growing investment in sports and entertainment. The kingdom has been making headlines for its bold moves in various sports, including motorsports, football, boxing, and esports. With the nation hosting major sporting events, such as Formula E, the Saudi Pro League, and the annual Saudi International golf tournament, the country’s sports sector is rapidly gaining international recognition.
In addition to sports, Saudi Arabia is investing heavily in entertainment, including major events such as the Saudi National Day concerts, the Red Sea International Film Festival, and various international collaborations. Alalshikh’s work at the helm of the GEA has made him a central figure in this transformative phase for Saudi Arabia.
Future
Turki Alalshikh is a key figure in Saudi Arabia’s ambitious push to become a global powerhouse in sports and entertainment. With his bold offer to Mike Tyson, Alalshikh is proving his commitment to this vision, as well as his ability to attract major stars and investments to the kingdom. As Saudi Arabia continues to grow its sports and entertainment sector, Alalshikh’s influence will undoubtedly play a crucial role in shaping the future of the kingdom’s global standing.
