According to Dubai Multi Commodities Centre’s (DMCC) ‘Future of Trade 2023’ research, gaming revenues in the Middle East and North Africa (MENA) area are predicted to nearly triple from 2021 to 2027 and reach USD 6 billion.
According to the research “Gaming in the Middle East and North Africa (MENA): Geared for Expansion,” the region’s ascent as a centre for consumers and creators is being fueled by a youthful, tech-savvy population, high levels of internet connectivity, and government assistance.
The DMCC, situated in Dubai, is a premier free zone and a significant centre for commodity trading and business.
Due to their high wealth levels, robust internet participation, and public investment efforts, the UAE and Saudi Arabia dominate the region. However, according to the survey, China, the US, and Japan are each the most important global markets, with Asia-Pacific accounting for the largest market share.
Esports is one of the most carefully monitored industries and is predicted to grow in MENA by 23.3% between 2019 and 2024. The region’s young population and factors like the involvement from foreign broadcasters and advertisers, and government assistance are fueling this, according to Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC.
To open the DMCC Gaming Centre in December 2022, DMCC teamed with YaLLa Esports, a professional esports organization headquartered in Dubai.
Savvy Games Group, a gaming and e-sports organization established in Saudi Arabia and entirely controlled by the Public Investment Fund (PIF), a Saudi sovereign wealth fund, will spend USD 265 million on Chinese tournament organizer VSPO in February 2023.
My Games, an Amsterdam-based mobile, PC, and console game producer, collaborated with AD Gaming in the UAE and announced plans to establish its regional headquarters in Abu Dhabi.
E-sports and gaming are growing in popularity in Abu Dhabi. To hold the first-ever “Games For Change Summit” in the Middle East, AD Gaming teamed up with Games for Change in April 2023.
The DMCC report made several significant suggestions for organizations and governments, with steps like increasing revenue, diversifying esports revenue streams from sponsorship to innovative direct-to-fan monetization models, such as digital retail, loyalty programs, and amateur gamer training platforms, and last but not the least, creating necessary regulatory measures to guarantee internet privacy, security, and safety and to create a business-friendly climate.