The Kingdom of Saudi Arabia (KSA) is emerging as a global leader in the metaverse, with a strong focus on investing in deep tech and creating a favorable environment for its development. Through its Vision 2030 National Transformation Programme, the KSA plans to invest $25 billion in emerging technologies by 2025, making it the highest investor globally based on GDP. Additionally, the KSA’s ambitious project Neom, a smart city along the Red Sea, is a $500 billion undertaking that includes investments in the metaverse.
Neom is positioning itself as a global hub, offering a futuristic lifestyle combined with compelling economic prospects grounded in deep tech. The city emphasizes innovative, tech-based civil services in areas such as health, education, transportation, and entertainment. It aims to become a hyper-connected cognitive city, utilizing immersive technologies and embracing the metaverse to enhance urban life and economic development.
The KSA’s young population, with more than two-thirds under 35 years old, is a significant driver of its technology sector. As digital natives, the demand for digital jobs is on the rise, prompting the KSA to focus on developing emerging technology and the metaverse in its school system. For example, Meta has opened an academy in Riyadh to teach real-time 3D development and prepare students for careers in the metaverse.
The KSA has made significant strides in establishing a metaverse-ready digital infrastructure. Internet accessibility is widespread, with a 4G mobile network and general broadband covering 98% of the population. Saudi Arabia ranks first in internet usage and fifth in the world for mobile internet speeds. The country aims to expand its digital economy to 19% of GDP by 2025, inviting national and foreign investment in cutting-edge technology and non-oil industries.
In line with its focus on the metaverse, the KSA is also investing in the gaming and esports industry. The Gaming And Esports Strategy program is set to contribute $13 billion to the Kingdom’s GDP and create 39,000 jobs by 2030. The KSA already has a thriving esports scene, with 23.5 million gaming enthusiasts. The country is also a regional leader in VR/AR headset sales, with sales expected to double by 2025.
Overall, the KSA’s investment in the metaverse and its focus on developing a metaverse-ready digital infrastructure make it a global leader in this emerging technology. The Kingdom’s Vision 2030 plan, along with projects like Neom and its emphasis on the gaming and esports industry, demonstrate its commitment to diversifying its economy and embracing the opportunities offered by the metaverse.
With its young population, favorable digital skills, and strong investment in emerging technologies, the KSA is well-positioned to capitalize on the potential benefits of the metaverse. As businesses, industries, and governments around the world navigate the evolving landscape of the metaverse, the KSA stands out as a leader paving the way for the future of digital reality.
