The Middle East has traditionally thrived on the revenues gathered from the oil and gas sector.
However, several nations in the region are striving to diversify their economies and gaming is a key part of their long-term ambitions.
The Middle East has developed one of the fastest-growing markets for the gaming industry, with the market valued at $6 billion at the end of last year.
The gaming sector has been a major driving force behind the Middle East’s economic growth, but there are certain areas where the region hasn’t fully capitalised on opportunities.
Kuwait’s Reluctance to Embrace iGaming
Most nations in the Middle East are investing heavily in the gaming industry, but only a handful have expanded their reach into the associated iGaming sector despite its vast potential.
It is no secret that the region is not exactly a hotbed for gambling, but some nations have shown that they are not afraid to get their hands dirty in the quest for diversification.
The United Arab Emirates (UAE) is at the forefront of the iGaming revolution in the Middle East, but others are reluctant to jump on the bandwagon.
For example, the iGaming market remains virtually untapped in Kuwait. The country hasn’t lifted a finger to develop or regulate its iGaming sector for cultural and religious reasons.
The UAE has found ways to navigate these restrictions by creating a robust regulatory framework that monitors gambling activities in the country.
Kuwait could follow their blueprint to mitigate risks, but the vast riches of the iGaming market haven’t been enough to convince them.
If Kuwait were to reconsider its stance on iGaming, the country could unlock highly profitable revenue streams, especially in online slots and other digital gambling platforms.
Gambling enthusiasts already patronise real money online casinos in Kuwait, but they are largely regulated by authorities in established gaming jurisdictions overseas.
Aside from the promise of raking in revenue, the government could also stifle the growth of unregulated platforms if they take matters into their own hands.
Oman is Lagging Behind in the eSports Stakes
The UAE and Saudi Arabia have established themselves as premium destinations for eSports by hosting large-scale events and supporting professional gaming teams.
However, several other countries, particularly Oman, are struggling to catch up. It means they are missing out on the economic and cultural opportunities associated with eSports.
Like their neighbours, Oman boasts a young and tech-savvy population but lacks the infrastructure and institutional support needed for eSports to thrive.
There are no dedicated gaming arenas, and the country has not hosted any major eSports tournaments. The lack of exposure has limited opportunities for local talent to compete on the big stage.
There is also little or no investment from the government or the private sector to help nurture local eSports talent, which also contributes to the lack of growth in the country.
The importance of coordinated effort in supporting the eSports landscape in Oman cannot be swept under the rug.
The country’s lackadaisical attitude towards eSports is a major reason why they are often overlooked in the regional gaming landscape.
Video Gaming’s Slow Growth in Lebanon
Middle Eastern nations are making significant strides in video gaming, but Lebanon has yet to fully embrace the sector to generate revenue.
Despite its potential, the gaming industry in Lebanon remains underdeveloped, with only a handful of game development studios operating in the country. The fact that the sector is receiving no government support has not helped matters.
Lebanon is lagging behind neighbouring countries like Bahrain in the video gaming field, which is down to several factors – not least the economic instability currently plaguing the country.
The country is in the midst of a huge liquidity crisis that has affected its ability to invest in emerging industries like video gaming.
As a result, many talented developers and designers are seeking greener pastures abroad, leaving a huge talent gap in the local market, which only worsens Lebanon’s current situation.
This brain drain has further stifled innovation and growth in Lebanon’s gaming ecosystem.
The high cost of gaming equipment, driven by ridiculous taxes on gaming consoles and software, has also made it difficult for the locals to get their hands on video games.
With customers deterred, the supply far outweighs the demand, which has discouraged local entrepreneurs from entering the gaming market.
