According to Bloomberg data, Kuwait’s expenditure on the electronic games market in 2023 reached approximately $260 million, securing the eighth position among Arab countries with the highest spending in this sector. This highlights the growing interest and investment in the gaming industry within the country.
Leading the pack was Saudi Arabia, with a substantial spending volume of $1.89 billion, reflecting a 13% increase from 2022, as reported by Al-Anba daily. The Kingdom’s strong growth in gaming expenditure demonstrates the popularity of electronic games among its population.
Egypt claimed the second spot with an expenditure of $1.71 billion in the previous year, marking a 17% rise from 2022. This significant increase showcases the continued growth of the gaming market in Egypt and the increasing affordability of gaming devices and software.
Iraq secured the third position in the Arab world in 2023, with a total expenditure of $900 million, indicating an 11.1% increase from 2022. Despite the challenges faced by the country, Iraq’s gaming industry is demonstrating resilience and attracting investment.
Further details revealed Algeria as the fourth-ranking country, with total expenditures in the electronic games market reaching $720 million in the past year. This demonstrates the growing interest in gaming among Algerian consumers and the potential for further growth in the industry.
The United Arab Emirates (UAE) secured the fifth position, with a total spending amount of $660 million. The UAE’s strong gaming market is driven by a combination of local demand and the country’s position as a regional hub for technology and entertainment.
It is worth noting that the rankings are based on expenditure and not necessarily on the size of the gaming market. Some countries with smaller populations may have higher per capita spending, while others with larger populations may have lower spending overall.
The growth of the electronic games market in the Arab world reflects a global trend of increasing interest and engagement in gaming. The accessibility of gaming platforms, the rise of mobile gaming, and the development of immersive virtual reality experiences have all contributed to the industry’s growth.
In Kuwait, the gaming industry has seen significant growth in recent years, with an increasing number of gamers and esports enthusiasts. The availability of high-speed internet and the presence of gaming cafes and dedicated gaming events have contributed to the popularity of gaming in the country.
As the gaming market continues to expand, it presents opportunities for local businesses and entrepreneurs to tap into this growing industry. Game development studios, esports organizations, and gaming accessories retailers are among the sectors that can benefit from the increasing demand for gaming-related products and services.
However, it is important to note that the gaming industry is not without its challenges. Concerns about the impact of excessive gaming on mental health, particularly among young people, have prompted discussions on the need for responsible gaming practices and regulations.
In conclusion, Kuwait’s ranking as the eighth-highest spender in the Arab countries’ electronic games market highlights the country’s growing interest and investment in gaming. The overall growth of the gaming industry in the Arab world reflects a global trend of increased engagement in electronic games. As the industry continues to evolve, it presents opportunities for businesses and entrepreneurs to capitalize on this growing market.
Source: TimesKuwait
