It goes without saying that the esports sector is booming. While much of the talk is around money spent by publishers in supporting tournaments, there’s a lucrative adjacent industry fuelled by investors, sponsors and fans.
As the GCC moves to develop its esports product, nurturing the entire ecosystem will be key to success.
During ESI Digital Winter, a virtual esports event organised by Esports Insider, experts explored how the ecosystem can thrive, with pertinent lessons for the GCC. Investors looking to diversify their portfolios are looking at esports, which offers much better returns than traditional assets and promises a positive future growth path.
Christian Christoefl, vice president for Investment Banking at Deloitte, says there was a 25 per cent increase in investment activity in the sector from 2018 to 2019. The expectation was for continued robust growth and investment in 2020, based on these stats. However, Covid-19 did dampen investment activity, with declines both month-over-month and year-on-year from February to April, Christoefl says.
Tournaments
Hosting large esports tournaments such as League of Legends has a significant economic impact on cities, a fact not lost on regional authorities. NEOM, the futuristic city being built in Saudi Arabia, will have a dedicated gaming/esports zone. Meanwhile, Dubai has plans to build a large esports venue, dubbed the X Stadium.
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