The competition will be held annually in Riyadh starting summer 2024, a statement from Saudi Crown Prince Mohammed bin Salman said, according to CNA.
Clubs will compete across games from various genres to become the ultimate Esports World Cup champion, the statement said.
Sports, e-sports and gaming have been part of the crown prince's transformation plan, known as Vision 2030, in which the government is pouring hundreds of billions of dollars to diversify the kingdom's economy and reduce its reliance on oil.
Saudi Arabia's Savvy Games Group, owned by sovereign wealth fund PIF, said last year it will invest 142 billion riyals (US$37.8 billion) in initiatives aimed at making Saudi Arabia a global hub for gaming.
Under the plan, the kingdom aims to set up 250 games companies locally, which will create 39,000 jobs, and raise the sector's contribution to Saudi GDP to 50 billion riyals by 2030.
"The Esports World Cup is the natural next step in Saudi Arabia's journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry," the crown prince was quoted in the statement as saying.
The competition will help achieve Vision 2030 objectives by boosting tourism, creating jobs and providing entertainment for residents and visitors, he added.
This year marks the 75th anniversary of the establishment of diplomatic relations between China and Hungary. Hungary was the first country in Europe to join the Belt and Road Initiative (BRI) and to announce its policy of Eastern opening. The Comprehensive Strategic Partnership between the two countries in 2017 further deepened the framework for cooperation and opened new avenues for cooperation in areas such as infrastructure development, energy, finance and technology.
The evolving and more dynamic landscape of global education highlights the need for more inclusive and representative frameworks, leading to challenge the entrenched paradigms. One significant voice in this debate is Dr. Hongzhi Zhang, a distinguished Chinese scholar and one of the leading proponent of “Asia as Method” in higher education reform.
The Kuwait College of Science and Technology (KCST) has signed a memorandum of understanding with Tengrai, a leading artificial intelligence firm based in Hungary. The agreement was formalized during a visit by Tengrai’s founder, W. Szabo Peter, and the Hungarian Ambassador to Kuwait, András Szabó, who were warmly received by Professor Khaled Al-Baqa’in, President of KCST.