TRENDING
CAN GCC BECOME THE GLOBAL CAPITAL FOR ESPORTS
As the esports industry continues to mature , it faces challenges in finding a sustainable business model with concerns including alignment and investment , as well as the lack of unified rules . Will GCC take the lead asks Alexander Schudey at BCG .
With a large population of gamers , major esports events , recent investments , and ambitious initiatives in Saudi Arabia and the UAE , the region is solidifying its position as a force to be reckoned with in the esports industry .
The gaming industry is experiencing massive growth , with an estimated 3 billion gamers worldwide . However , there is still significant untapped potential , with only 500 million identified as esports fans . BCG ' s latest gaming report titled Let the Game Begin : How Esports is Shaping the Future of Live Entertainment , explores the emerging power of esports and its potential in the Middle East .
Esports , while drawing parallels with traditional sports , is centred around competitive video gaming . Unlike traditional sports , esports has a unique ecosystem that includes game publishers and licensing partners . Each game has its own set of rules and tournament structures .
Esports has emerged as a dominant form of entertainment , captivating audiences both online , with events racking up over 100 million hours watched , and in-person , as evidenced by the rapid sell-out of tickets for major live tournaments .
The industry has witnessed a rise in both the number and calibre of tournaments , with notable increases in prize pools over the years . As of now , the esports audience stands at 500 million , a fraction of the global gamer population , indicating the potential for further growth in the sector .
The report highlights the Middle East as an emerging force in the world of esports , offering significant
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