Why is Saudi Arabia investing in games?

The Saudi Arabian government is betting $38 billion on the country's potential to become the next hub for the video-game industry. As part of its strategy to diversify its economy away from oil, Saudi Arabia, through its Public Investment Fund, wants to become a big player in the $184 billion global gaming market.

Is gaming allowed in Saudi Arabia?

Saudi Arabia. Most banned games can be found in many stores due to a lack of government enforcement of bans (often at a substantial price). However, not all major stores will stock banned titles. The Last of Us Part II is banned due to homosexual-related content.

Why is Saudi Arabia investing?

The Saudi government wants to build communities and boost the economy by regenerating the country's digital infrastructure. To this end, it has committed to an annual investment of 2.5% of GDP in the research, development, and innovation sector by 2040. Businesses are contributing, too.

What companies has Saudi Arabia invested in?

The Saudi sovereign wealth fund also has stakes in at least six other major video game companies, including Capcom, Electronic Arts, and Take-Two Interactive, according to Bloomberg, and has also put $38 billion behind its own game company, Savvy Games Group.

Why should we invest in the gaming industry?

An investment in a gaming stock can provide exposure to a fast-growing and innovative industry, which is set to benefit from ongoing technological advancement.

Saudi Arabia Investing $37 BILLION In Gaming

Why is Netflix investing in games?

Key Points. Netflix sees video games as one of its three core media offerings, next to movies and TV shows. The company already has dozens of games available, including a few you can play inside the video-streaming service itself.

Why the gaming industry is booming?

The Pandemic gave a boost to the gaming market in India and people are now more willing to pay to play. According to analysts, over 24 million Indians are added to the payment-linked gaming market. The Indian gaming market is expected to grow from $2.8 billion in 2022 to $5 billion in 2025, growing at a CAGR of 28-30%.

What US companies does Saudi Arabia own?

Saudi Arabia's sovereign wealth fund — that is, its state-owned investment fund — now holds shares in of all of the following companies: Amazon, Google, Visa, Microsoft, Disney, Nintendo, Uber, PayPal and Zoom, among many others.

Who is Saudi Arabia's biggest trading partner?

China's status as Saudi Arabia's biggest trading partner makes sense considering its recent economic growth and focus. China is the largest buyer of crude oil in the world, and it buys more from the Saudi Arabia than anywhere else.

When did Saudi Arabia get so rich?

Fueled by enormous revenues from oil exports, the economy boomed during the 1970s and '80s. Unlike most developing countries, Saudi Arabia had an abundance of capital, and vast development projects sprung up that turned the once underdeveloped country into a modern state.

How much Saudi Arabia invested in USA?

U.S. direct investment in Saudi Arabia is led by nonbank holding companies, wholesale, and mining trade. Saudi Arabia's FDI in the United States (stock) was $6.2 billion in 2019, down 10.0% from 2018.

Why does Saudi Arabia have so much debt?

Saudi Arabia's debt has risen significantly in recent years, along with that of other Gulf states. In Saudi Arabia's case, the reasons include a decline in oil export revenues as well as the state's large public expenditures.

Why is GTA V banned in Saudi Arabia?

Saudi Arabia has banned dozens of popular video games, including Grand Theft Auto 5, Assassin's Creed II, and The Witcher 3, after two young children were reported to have killed themselves during a “suicide game” called the Blue Whale.

Is sexting legal in Saudi?

Sexual harassment law in Saudi Arabia covers all sexually explicit content sent through private chat rooms including sending red emojis.

Is GTA V banned in Saudi Arabia?

#GTAV has been banned in Saudi Arabia following the reported suicide of two children. The reason for the ban is "unspecified violations of rules and regulations".

How does the US benefit from Saudi Arabia?

The core logic underpinning the relationship is that the United States of America (USA) provides military protection of the Kingdom in exchange for a reliable oil supply from the Saudis, pricing of oil in USA dollars, and Saudi support for American foreign policy operations across the world.

Who is Saudi closest ally?

Pakistan has been called the closest non-Arab ally of Saudi Arabia, or "Saudi Arabia's closest Muslim ally" Saudi Arabia has been rocking the cradle of Pakistani politics, brokering truce among warring leaders, providing asylum to those being exiled and generously lavishing funds on a state strapped for cash.

What does the US buy from Saudi Arabia?

The top three U.S. imports from Saudi Arabia, also by value, were Oil, (2) Gasoline, other fuels, and (3) Misc. mineral or chemical fertilizers. By tonnage, the top three U.S. exports were (1) Corn, (2) Hay, including alfalfa hay, etc., and (3) Rice.

Does US depend on Saudi Arabia?

The United States is Saudi Arabia's second largest trading partner, and Saudi Arabia is one of the United States' largest trading partners in the Middle East. Saudi Arabia is the third leading source of imported oil for the United States, providing about half a million barrels per day of oil to the U.S. market.

How much American land does Saudi Arabia own?

The Middle Eastern kingdom needs hay for its 170,000 cows. So, it's buying up farmland for the water-chugging crop in the drought-stricken American Southwest.

Who owns most of Saudi oil?

The world's biggest oil company, which is 95%-owned by the Saudi Arabian government, declared a $19.5bn dividend after its fourth-quarter trading.

Who is the most rich gaming industry?

What is the fastest growing gaming sector?

Console gaming represents the largest segment as of 2021, but mobile is the fastest growing with a +4% year-over-year growth rate.

Why is gaming declining?

In the US, spending on games fell 5% in 2022. Across Europe, game sales are down over 7%. It looks bad, but there was one very big reason for the decline: COVID-19. In 2020, when the lockdowns hit, video game sales surged.