The gaming sector in the Middle East and North Africa (MENA) region is predicted to earn $6 billion in revenue by 2027, roughly double the amount recorded in 2021, according to research by Dubai Multi Commodities Centre.
The Future of Trade 2023 report emphasizes the MENA region's promising growth prospects in the gaming sector, driven by a youthful population that is digitally savvy, widespread connectivity, and supportive government policies. Consequently, the region is emerging as a prominent hub for both gaming consumers and creators.
The executive chairman and CEO of DMCC, Ahmed Bin Sulayem, recognizes the popularity of gaming as a form of entertainment throughout the world, especially in the MENA area, which currently accounts for 15% of the worldwide player population. Due to their high incomes, active digital involvement, and significant state expenditures, the UAE and Saudi Arabia are at the forefront of the regional gaming and esports sector.
On a global scale, the Asia-Pacific region, with China, the US, and Japan as key players, represents the largest gaming market. The report predicts that the global gaming market will reach approximately $340 billion by 2027. Additionally, it anticipates a significant increase in esports enthusiasts worldwide. By 2025, approximately 322.7 million individuals are expected to be occasional viewers of esports.
Sulayem attributes this gaming boom, in part, to the "gamification" of various sectors like education and healthcare. He thinks that encouraging the gaming industry's rapid expansion will have significant effects on world markets and commerce.
With the aim of capitalizing on the economic potential of the gaming industry, DMCC partnered with YaLLa Esports, a professional esports organization based in Dubai, to establish the DMCC Gaming Centre in December. This center aims to support the growth of the gaming industry in Dubai by providing businesses with access to global funding, industry experts, and a conducive ecosystem for efficient and confident operations.
Renowned worldwide game companies, such as Ubisoft, Tencent, and Riot Games, have built offices in the area as a result of the UAE's friendly business climate and advantageous location.
Furthermore, over $1.7 billion has been invested by Saudi Arabia in the gaming sector, which is now part of the Neom initiative.
The report compiles opinions from influential figures in the industry, including Klaus Kajetski, CEO and founder of YaLLa Esports, and Jad El-Mir, a partner at Strategy&. Their contributions aid in identifying the main factors for the gaming industry's quick expansion.