RIYADH: Saudi Arabia’s $500 billion giga-project NEOM plans to harness the growing financial maturity of the gaming sector to boost its social and economic global standing.
Wayne Borg, NEOM’s managing director for media, entertainment, culture and fashion industries, underscored the crucial role of the multibillion-dollar industry in propelling the megacity’s infrastructure.
Speaking at the Next World Forum currently taking place in Riyadh, Borg emphasized the identification of the media industry as a key driver of the NEOM economy. He highlighted gaming’s substantial role within this context, noting its impact in areas beyond entertainment — such as information dissemination and social connection — while also contributing to job creation and the growth of gross domestic product.
The Kingdom’s aspiring tech hub city-building project is establishing a gaming cluster in order to accelerate the development of the sector, he added.
In February 2022, NEOM announced its joint venture with media company MBC Group to develop the first AAA games development studio in the region.
“We’ve got our first joint venture, the region’s first AAA game studio, which is a joint venture with MBC here in the region,” Borg said at the forum.
Additionally, the NEOM Level Up Program, which is operated by DigiPen, was created to back the best of Saudi gaming startups with comprehensive, tailor-made mentorship and financial support.
“We’ve got our first incubator again in conjunction with DigiPen Level Up, so we see a lot of opportunities. And by consolidating talent and activity we can really accelerate the development of the sector in the region,” Borg added.
With the support of the advancements made by Vision 2030, Saudi Arabia has a robust and resilient infrastructure through which the gaming industry can thrive.
As the 19th largest gaming market in the world per capita, the Kingdom has a solid foundation in terms of market size, noted Borg.
The Next World Forum is global industry gathering created to shape the future of the sector through knowledge exchange, discourse and debate.
This year’s edition builds on last year’s success with high-profile guests leading discussions and deep analysis of a business worth $170 billion.
The forum is taking place at the Four Seasons Hotel Riyadh at Kingdom Center and is scheduled to end on Aug. 31.
