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Video game industry helping to reshape Saudi economy, experts say

Saudi Arabia’s target to become a global video game hub by the end of this decade is an achievable goal thanks to the Kingdom’s National Gaming Strategy. (AFP)
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Updated 12 January 2025
Nirmal Narayanan
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Video game industry helping to reshape Saudi economy, experts say

  • Saudi Arabia has secured the second-highest global ranking for average daily time spent playing video games
Updated 12 January 2025
Nirmal Narayanan

RIYADH: The booming video game industry in Saudi Arabia is expected to play a crucial role in materializing the economic diversification goals of the Kingdom by the end of this decade, according to experts. 

Speaking to Arab News, Povilas Joniskis, managing director and partner at Boston Consulting Group, said that the gaming industry is steadily evolving in Saudi Arabia, with the Kingdom’s young population considering it an effective social communication tool. 

The comments from Joniskis support the Kingdom’s National Gaming and Esports Strategy, which aims to ensure the sector creates jobs and contributes $13 billion to the country’s gross domestic product.

“Vision 2030’s economic diversification aims to unlock potential beyond oil and gas with a broad array of growing industry sectors. The gaming industry is rapidly emerging as one of them. The sector shows strong long-term potential, currently positioned as one of the largest entertainment verticals globally, second only to video and TV streaming services,” said Joniskis. 

He added: “Saudi Arabia’s gaming market benefits from both demand and supply advantages. On the demand side, a young, vibrant population — predominantly under 35 — views gaming not just as entertainment but as a key social interaction platform.”

In July, a report released by US-based online gaming platform Mobile Premier League revealed that Saudi Arabia has secured the second-highest global ranking for average daily time spent playing video games. 

Joniskis added that the video gaming industry in Saudi Arabia will create a multiplier effect across the broader economy, as it will attract global developers to come and invest in the Kingdom’s gaming sector, as well as create opportunities for local talent. 

Federico Pienovi, chief business officer and CEO for Asia Pacific and Middle East and North Africa at Globant, echoed similar views and said the video game sector is creating new jobs in technology and creative fields while broadening the Kingdom’s entertainment landscape beyond traditional offerings.

“The growth of the video game industry is being integrated into major development projects like NEOM and Qiddiya, which aim to establish entertainment and cultural hubs in the region. Globant’s Games Studio is one of the companies working in this growing market, collaborating with Saudi giga-projects through their expertise in AAA game development and immersive experiences,” Pienovi told Arab News. 

In November, Globant inked a deal with Qiddiya Investment Co. — fully owned by the Public Investment Fund — to turn Qiddiya City into an immersive hub for entertainment, sports, and culture. 

Under the deal, Globant will work with QIC to develop the “PLAY LIFE Connected Experience,” a digital ecosystem designed to transform how visitors and residents interact with the destination’s wide range of offerings. 

Pienovi added his firm is investing in gaming infrastructure and talent development, fostering both international partnerships and local initiatives as part of its strategy to become a key player in the global gaming market, as outlined in Vision 2030. 

Soham Thacker, founder and CEO of esports gaming platform Gamerji, said that has been making long strides in promoting gaming and esports by conducting events like the Esports World Cup, Next World Conference and Gamers8. 

“Saudi Arabia has successfully put itself as the epicenter of the video game industry. These events along with the upcoming Esports Olympics to be held in the region will boost the tourism as well as economic development of the country,” said Thacker.

Factors driving Saudi Arabia’s video game industry

Joniskis said that Saudi Arabia’s predominantly young population, with a majority under 35 years old, has embraced gaming as a primary form of entertainment and socializing, and it is driving the growth of the industry in the Kingdom. 

The BCG official added that high disposable income among Saudi citizens also plays a crucial role, enabling access to premium gaming devices and extensive leisure time for entertainment pursuits. 

“This purchasing power translates directly into enhanced gaming experiences through top-tier hardware,” said Joniskis. 

He added: “Equally significant is the Kingdom’s robust technical infrastructure. Despite Saudi Arabia’s vast territory, the country maintains impressive network performance with CST reports showing low latency rates under 40ms across major titles including League of Legends, ML:BB, Call of Duty on both PC and mobile platforms, and PUBG Mobile.” 

Pienovi said that high smartphone penetration rates and widespread access to high-speed internet have made mobile and online gaming easily accessible across the Kingdom. 

“This infrastructure has helped establish gaming as a mainstream activity, supported by growing interest in esports tournaments, social media gaming communities, and live streaming platforms. 

The cultural shift toward digital entertainment has been complemented by Vision 2030’s focus on expanding the entertainment sector,” said Pienovi. 

Can Saudi Arabia become a global video game hub? 

According to experts who spoke with Arab News, Saudi Arabia’s target to become a global video game hub by the end of this decade is an achievable goal thanks to the Kingdom’s National Gaming Strategy. 

“Saudi Arabia’s ambition to become a global gaming hub, while bold, appears achievable through its unprecedented National Gaming Strategy. This coordinated approach ensures orchestrated delivery across various stakeholders and entities, setting a new standard for industry development,” said Joniskis. 

The BCG official added that the Kingdom has aligned key market elements: strong local demand coupled with strategic initiatives, which include targeted incentive packages for global companies and talent, strategic investments through PIF and Savvy, and major infrastructure developments like Qiddiya and NEOM. 

Thacker also underscored the pivotal role being played by PIF to turn the Kingdom into a global gaming destination by the end of this decade. 

FAST FACT

Saudi Arabia’s predominantly young population, with a majority under 35 years old, has embraced gaming as a primary form of entertainment and socializing, and it is driving the growth of the industry in the Kingdom.

“Most of the gaming companies have the PIF as either their partner or an investor. Hence, it is very clear that the country aims to be the hub of the gaming industry and with the millions of dollars spent on events and tournaments in the region, Saudi Arabia is definitely poised to be the hub of gaming in the next few years,” said the Gamerji founder. 

In January, Saudi Arabia’s sovereign wealth fund strengthened its investment in the video gaming sector by increasing its stake in Japan-based Koei Techmo from 5.56 percent to 6.6 percent. 

Koei Tecmo is known for developing several popular video games including Nobunaga’s Ambition, Dynasty Warriors, Atelier, and Ninja Gaiden. 

In 2023, PIF also raised its stake in Nintendo to 8.26 percent, making it the largest outside investor in the Japanese gaming company. 

Nintendo is one of the most prominent names in the global video games industry, with a portfolio of titles including Pokemon, The Legend of Zelda, and Mario.

The role of Savvy Games

It was in September 2022 that Saudi Arabia’s Crown Prince Mohammed bin Salman launched the Savvy Games Group’s strategy, with an investment budget of $37.7 billion. 

Savvy is currently accelerating talent in the Kingdom and catalyzing Saudi Arabia’s unique geographical location to build the dominant global hub for games and esports.

“Savvy Games, backed by the PIF, represents a significant step in developing Saudi Arabia’s gaming industry. With $38 billion allocated for investments, the initiative aims to attract international developers and publishers to establish local operations,” said Pienovi. 

He added: “This substantial funding could accelerate industry growth by enabling partnerships between international gaming companies and local institutions. The investment strategy focuses on building technical capabilities, fostering innovation, and developing gaming infrastructure that aligns with global
industry standards.” 

Echoing similar views, Joniskis told Arab News that Savvy Games has rapidly ascended to become one of the top 10 gaming companies globally by revenue, marking Saudi Arabia’s emergence in the global gaming industry. 

The BCG official added that Savvy is strategically localizing game development activities within Saudi Arabia, creating opportunities for domestic talent. 

“Through strategic acquisitions — ESL, FaceIt, and Vindex — Savvy has established itself as a global esports leader. Partnerships with industry leaders like Niantic and XSolla are strengthening the regional ecosystem through talent academies and incubators, supporting global companies’ regional expansion,” said Joniskis.

Areas of improvement

Joniskis also highlighted some of the areas that could be strengthened to accelerate the growth of Saudi Arabia as a global gaming destination. 

“The Kingdom can strengthen its position by aligning game production incentives with established hubs like Montreal, Austin, and others, enhancing cost competitiveness to attract global developers and investment,” said Joniskis.

He added: “Education represents another crucial focus area. Expanding beyond traditional degree programs to include vocational training would create more accessible pathways for existing talent to enter the gaming industry. This comprehensive approach to talent development supports both immediate and long-term industry needs.” 

For his part, Pienovi said that Saudi Arabia’s gaming presence requires a multi-faceted approach focusing on sustainable growth and innovation. 

The Globant official also underscored the vitality of cultivating local talent through specialized education programs and strategic partnerships with global technology leaders. 

“Innovation zones and dedicated gaming districts could serve as catalysts for industry growth, providing spaces where technology companies, startups, and creative talent can collaborate. This infrastructure development needs to be complemented by investment in competitive gaming facilities and events that can attract international attention,” added Pienovi.

Topics: video game industry Saudi economy

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Pakistan requests extra 10 billion yuan on China swap line, says finance minister

Updated 26 April 2025
Reuters
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Pakistan requests extra 10 billion yuan on China swap line, says finance minister

  • Muhammad Aurangzeb says Pakistan aims to diversify its lending base by issuing panda bond
  • He expects IMF board to approve first loan review, climate resilience disbursement early next month
Updated 26 April 2025
Reuters

WASHINGTON: Pakistan has put in a request to China to augment its existing swap line by 10 billion yuan ($1.4 billion), Finance Minister Muhammad Aurangzeb said, adding he expected the country would launch a Panda bond before year-end.

Pakistan has an existing 30 billion yuan swap line already, Aurangzeb told Reuters in an interview on the sidelines of the International Monetary Fund and World Bank Group spring meetings in Washington.

“From our perspective, getting to 40 billion renminbi would be a good place to move toward ... we just put in that request,” Aurangzeb said.

China’s central bank has been promoting currency swap lines with a raft of emerging economies, including the likes of Argentina and Sri Lanka.

Pakistan has also made progress on issuing its first panda bond — debt issued on China’s domestic bond market, denominated in yuan. Talks with the presidents of the Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) — the two lenders who are in line to provide credit enhancements for the issue — had been constructive, he said.

“We want to diversify our lending base and we have made some good progress around that — we are hoping that during this calendar year we can do an initial print,” he said.

Meanwhile, Aurangzeb expected the IMF executive board to sign off in early May on the Staff Level Agreement on its new $1.3 billion arrangement under a climate resilience loan program as well as the first review of the ongoing $7 billion bailout program.

Getting the green light from the IMF board would trigger a $1 billion payout under the program, which the country secured in 2024 and has played a key role in stabilizing Pakistan’s economy.

Asked about the economic fallout from the tensions with India following the killing of 26 men at a tourist site earlier this month, Aurangzeb said it was “not going to be helpful.”

The attack triggered outrage and grief in India, along with calls for action against neighbor Pakistan, whom New Delhi accuses of funding and encouraging terrorism in Kashmir, a region both nations claim and have fought two wars over.

After the attack, India and Pakistan unleashed a raft of measures against each other, with Pakistan closing its airspace to Indian airlines and suspending trade ties, and India suspending the 1960 Indus Waters Treaty that regulates water-sharing from the Indus River and its tributaries.

Trade flows between the two countries had already fallen off sharply following past frictions and totalled just $1.2 billion last year.

Aurangzeb estimated growth around 3% in the current financial year which ends in June 2025, and in the 4-5% range next year, with a view to hitting 6% thereafter.

Topics: Pakistan Pakistan China Ties Panda bonds Finance Minister Muhammad Aurangzeb Arab News Pakistan

Saudi PIF assets triple with 390% surge since 2016, 2030 target raised

Updated 26 April 2025
Nadin Hassan
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Saudi PIF assets triple with 390% surge since 2016, 2030 target raised

  • Record-breaking growth fuels job creation, sector expansion, and a powerful shift beyond oil
Updated 26 April 2025
Nadin Hassan

RIYADH: Saudi Arabia’s Public Investment Fund has recorded a 390 percent surge in assets under management since the launch of Vision 2030, according to the initiative’s latest annual report.

PIF’s assets have soared from $160 billion in 2016 to $941.3 billion in 2024, surpassing its annual target of $880 billion and underscoring the fund’s rapid growth trajectory under the Kingdom’s transformative agenda.

Building on this momentum, the wealth fund has revised its 2030 goal, raising its asset management target from $1.87 trillion to $2.67 trillion. The updated ambition reflects the fund’s strengthened position and growing influence in shaping Saudi Arabia’s future economy.

Between 2016 and 2024, PIF posted a compound annual growth rate of 22 percent, highlighting its consistent ability to generate strong returns while advancing national development priorities.

Driving forces behind PIF’s expansion

Following its restructuring under Vision 2030, PIF has transformed from a traditional sovereign wealth fund into a globally recognized driver of economic diversification and innovation.

The fund’s growth has been propelled by a proactive, diversified investment approach, with 40 percent of its portfolio allocated to Saudi companies and giga-projects. Simultaneously, it has made strategic international investments across high-potential sectors.

This balanced strategy has contributed to the expansion of priority industries within the Kingdom, including tourism, mining, culture, logistics, and technology, supporting efforts to build a resilient, diversified economy.

Economic impact and sectoral growth

PIF’s strategic investments have not only boosted economic growth but also stimulated private sector participation, created employment opportunities, and attracted foreign direct investment.

By 2024, the fund’s initiatives had contributed to the creation of 1.1 million jobs, a significant leap from 77,700 direct and indirect jobs recorded in 2021. Over the same period, the number of companies established with PIF’s support more than doubled, rising from 45 to 93 across 13 strategic sectors.

The fund achieved 48 percent local content across its projects by 2024, highlighting its strong commitment to driving domestic economic growth.

Between 2021 and the third quarter of 2024, PIF attracted more than $37.33 billion in private investments across a range of initiatives, according to the report.

Through its Private Sector Hub initiative, it published over 200 opportunities during this period, representing a total investment value of $10.67 billion.

In addition, more than 300 contractors have been pre-qualified, and over 200 small and medium-sized enterprises have been trained to collaborate with companies across PIF’s portfolio.

PIF’s role in strengthening Saudi Arabia’s non-oil economy has been pivotal.

According to the report, non-oil sectors accounted for 51 percent of the Kingdom’s real gross domestic product by 2024, a key milestone in achieving Vision 2030 goals.

The fund’s influence is evident in the launch of several megaprojects aimed at redefining the Kingdom’s economic landscape, ranging from world-class tourism destinations to advanced industrial zones.

PIF also played a crucial role in advancing financial sector reforms. The number of licensed asset managers in Saudi Arabia rose sharply from just five in 2019 to 36 in 2024, reflecting the Kingdom’s growing investment landscape and financial market sophistication.

Strengthening financial resilience

The fund has reinforced its financial base to support its ambitious investment strategy, highlighted by the transfer of 8 percent of Aramco shares. This move reduced the government’s direct ownership in the oil giant to 82.186 percent, enhancing PIF’s asset strength and investment capacity.

In addition, PIF secured $15 billion in syndicated credit facilities from 23 global financial institutions, significantly boosting its liquidity and financial flexibility. These initiatives align with PIF’s strategic objectives of developing new sectors, localizing knowledge and technology, and generating sustainable, high-quality employment opportunities across the Kingdom.

Global recognition

PIF’s transformation has not gone unnoticed on the international stage. The fund was named the world’s No.1 sovereign wealth fund brand by Brand Finance, with its brand value estimated at $1.1 billion.

Adding to its accolades, PIF swept four awards at the 2024 Middle East Bonds, Loans & Sukuk Conference, including Best Sukuk Deal, Best Landmark Deal, Best Semi-Sovereign Treasury and Funding Team, and Best Deal in Islamic Capital Markets.

Capital markets expansion

Saudi Arabia’s capital markets have grown in tandem with PIF’s rise, playing a critical role in broadening the nation’s economic base since the launch of Vision 2030.

Regulatory reforms—such as updates to the Companies Law and Government Tenders and Procurement Law—have enhanced transparency, strengthened investor confidence, and paved the way for a surge in initial public offerings.

The Saudi Exchange has seen remarkable expansion, with the number of listed companies increasing from 205 in 2019 to 353 in 2024. Foreign investor ownership more than doubled, reaching $112.8 billion in 2024 compared to $52.8 billion in 2019, while non-Saudi portfolio ownership grew from $29.3 billion in 2016 to $131.5 billion.

The number of individual portfolios on the Saudi Exchange also rose sharply, climbing from 9.2 million in 2016 to 13 million by 2024.

Meanwhile, Tadawul’s market capitalization (excluding Aramco) grew from 66.5 percent of GDP in 2019 to 86.7 percent in 2024, indicating the increasing maturity and depth of Saudi Arabia’s capital markets. The banking sector mirrored this growth, with total assets rising from $693.3 billion in 2019 to $1.12 trillion by the second quarter of 2024.

These developments have positioned Saudi Arabia’s financial sector as one of the most dynamic and accessible in the region, offering expanded opportunities for both local and global investors.

Reflecting this confidence, international credit rating agencies reaffirmed Saudi Arabia’s strong economic outlook in 2024. Moody’s assigned an AA3 rating, Fitch rated the Kingdom at “A+,” and S&P Global Ratings gave it an “A/A-1” rating, all with stable outlooks.

Beyond Vision 2030

As the Kingdom prepares to enter the final phase of Vision 2030 delivery in 2026, the focus will increasingly shift toward building a sustainable and resilient private sector. Key priorities include reducing reliance on government support while fostering growth through regulatory enhancements, infrastructure development, and targeted investments.

Saudi Arabia envisions the private sector playing a leading role in advancing the economy, particularly in high-impact fields such as advanced manufacturing, artificial intelligence, and the digital economy.

By empowering private enterprises, the Kingdom aims to achieve its target of generating 65 percent of GDP from private sector activities, positioning it as a critical driver of sustainable growth in the decades beyond Vision 2030.

Topics: PIF SaudiVision2030

Pakistan’s forex reserves triple since early 2023 as central bank targets $14 billion

Updated 26 April 2025
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Pakistan’s forex reserves triple since early 2023 as central bank targets $14 billion

  • Central bank governor says Pakistan’s reserves have seen both qualitative and quantitative improvement
  • Governor Jamil Ahmed was briefing executives of global financial and investment institutions in the US
Updated 26 April 2025
Ismail Dilawar

KARACHI: Pakistan’s foreign exchange reserves have more than tripled since early 2023, driven by a surplus in the external current account rather than fresh borrowing, the top central bank official said, according to a statement on Saturday, as the country targets $14 billion in reserves by June.

Pakistan’s forex reserves had touched critically low levels two years ago, giving it an import cover of less than a month. Faced with the threat of a sovereign debt default, the country secured a $3 billion short-term International Monetary Fund (IMF) bailout, tightened fiscal and monetary policies, restricted imports and allowed greater exchange rate flexibility.

Governor of the State Bank of Pakistan, Jameel Ahmad, told senior executives from global financial and investment institutions on the sidelines of the IMF-World Bank Spring Meetings in Washington the country’s external buffers had seen a “substantial qualitative as well as quantitative improvement” since then, as he briefed them about the current economic situation.

“Unlike previous episodes of reserve build-up, the ongoing rise in external buffers is not due to any further accumulation of external debt,” he said. “In fact, Pakistan’s public sector external debt, both in absolute terms and as a percent of GDP, has declined since June 2022.”

Ahmad added that the central bank had been able to strengthen reserves through foreign exchange purchases in the open market, supported by a current account surplus.

“The SBP is targeting to increase [forex] reserves to $14 billion by June 2025,” he said.

Ahmad said Pakistan had made tangible progress in stabilizing its economy, crediting a prudent monetary policy and sustained fiscal consolidation efforts for the improvement.

He informed that headline inflation had declined sharply over the past two years, reaching a multi-decade low of 0.7 percent in March 2025, while core inflation had also dropped from above 22 percent to a single digit and was expected to moderate further in the coming months.

Topics: Pakistan’s forex reserves

Pakistan’s IT exports seen reaching $4 billion in FY25 as industry seeks tax relief

Updated 26 April 2025
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Pakistan’s IT exports seen reaching $4 billion in FY25 as industry seeks tax relief

  • Country’s software association calls IT industry the only sector with 75% trade surplus
  • Government has set an ambitious target of reaching $10 billion in IT exports by 2029
Updated 26 April 2025
NAIMAT KHAN

KARACHI: Pakistan’s information technology (IT) sector expects exports to reach $4 billion in the current fiscal year and seeks regulatory reforms and a 10-year tax holiday to sustain growth momentum, said the country’s top software association on Saturday.

The IT sector is one of Pakistan’s priority industries as the country looks to boost export revenues and stabilize its external accounts.

Under the government’s “Uraan Pakistan” initiative, launched last year in December, Islamabad aims to raise IT exports to $10 billion by 2029.

Industry leaders say IT remains one of the few sectors capable of exponential growth despite the broader economic challenges.

“Muhammad Umair Nizam, Senior Vice Chairman of Pakistan Software Houses Association (P@SHA), has apprised that information technology has become the fastest growing export industry of Pakistan – and, the country is set to achieve $4 billion in its IT exports for the FY25,” the software association said in a statement, adding that Pakistan’s IT exports stood at $3.2 billion in the last fiscal year with the prospect for a 25% year-on-year growth.

However, P@SHA warned regulatory bottlenecks and inconsistent tax policies were hampering the sector’s expansion at a time when new tech sub-sectors were emerging.

The association said it had also submitted detailed budget proposals to the government, seeking a facilitative framework that includes streamlined foreign exchange regulations, banking sector support, removal of sales tax anomalies and accelerated development of special technology zones and IT parks.

Pakistan’s IT industry is the only sector with a trade surplus of around 75%, the statement said, underlining its potential to create jobs, develop skilled human capital and reduce the trade deficit on a sustainable basis.

The software association also raised concerns over income tax disparities between salaried employees and freelancers, saying the current structure discourages formal employment and needs urgent correction in the upcoming federal budget.

Topics: Pakistan IT Pakistan IT exports tax relief

Saudi Arabia’s webook.com eyes billion-dollar valuation, global expansion

Updated 26 April 2025
Nour El-Shaeri
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Saudi Arabia’s webook.com eyes billion-dollar valuation, global expansion

Updated 26 April 2025
Nour El-Shaeri

RIYADH: Saudi Arabia-based event booking platform webook.com has unveiled an ambitious roadmap aimed at achieving a billion-dollar valuation and a future listing on the stock exchange.

Positioning itself as the “ultimate super app for fun,” the company is rapidly expanding its offerings beyond event ticketing. New services include flight and hotel bookings, restaurant reservations, sports facility access, and live streaming. The platform is also leveraging cutting-edge technology and forging strategic partnerships to accelerate its global reach.

In an interview with Arab News, Nadeem Bakhsh, CEO of webook.com, highlighted the company’s growth strategy, structured around four key pillars: diversification, innovation, globalization, and automation.

“Our goal is to become the ultimate super app for fun worldwide, helping people discover and book experiences that bring them together,” Bakhsh said.

Strategic blueprint for growth

Webook.com’s roadmap—referred to internally as DIGA—outlines a methodical approach to scaling the business and establishing a global presence.

The first pillar, diversification, focuses on broadening revenue streams by integrating travel and hospitality services such as flights, hotels, and dining. The company is also fostering fan communities to deepen user engagement.

Innovation plays a central role, with webook.com deploying advanced technologies to streamline the user experience. New features include ticket auctions, built-in resale options, anti-scalping protections, and interactive community tools, all designed to offer a secure and seamless platform.

Under its globalization initiative, webook.com has already launched operations in eight countries and continues to grow its international team to support further expansion.

Meanwhile, automation is enabling the company to scale efficiently. By optimizing its engineering and operational infrastructure, webook.com aims to deliver a frictionless customer experience while supporting its broader growth ambitions.

Rapid international expansion and user growth 

The event platform is rapidly expanding its international footprint, claiming a user base of more than 7 million across 160 countries and access to over 520 global events since its launch.

The company credits its rapid growth to an unwavering focus on user experience and strategic collaborations.

Nadeem Bakhsh, CEO of webook.com.

“User experience is at the heart of our success,” said Bakhsh. “We have built a strong design and research team that benchmarks best practices from industries such as banking, e-commerce, transport, and social networks.”

In addition to refining its platform’s usability, webook.com has developed tailored tools for event organizers and partners, ensuring system stability even during peak demand.

“Unlike recently publicized high-profile concerts like Taylor Swift and Coldplay, where overwhelming demand left fans frustrated, our infrastructure guarantees high performance,” the CEO noted.

Lifestyle integration, dining partnerships

Expanding its footprint beyond ticketing, webook.com is weaving lifestyle services into its ecosystem. A notable partnership with dining reservation platform Servme aims to enhance the post-event experience by linking event attendees with nearby restaurants in Saudi Arabia.

“We have 8 million users, many of whom actively seek entertainment and dining experiences,” Bakhsh said. “During peak season, we process an average of 100,000 tickets per day, with a high of 150,000 on a single day. Each ticket presents an opportunity to upsell dining options.”

Using data-driven personalization, webook.com recommends dining venues based on users’ tastes and spending habits.

“Seamless integration allows users to book restaurants near their event venue effortlessly, enhancing their overall experience while driving traffic to restaurant partners,” Bakhsh explained.

Boosting digital streaming capabilities

In parallel, the platform is advancing its digital streaming features, bolstered by exclusive rights to Riyadh Season events.

“Our streaming service is built on a scalable infrastructure that can handle millions of users simultaneously,” Bakhsh said.

To enrich the virtual experience, the company is integrating interactive features such as live polls, real-time chat, and merchandise auctions during concerts.

“Our goal is to offer a virtual front-row experience, ensuring users never miss a moment, whether they are at the venue or streaming remotely,” Bakhsh said.

Looking ahead, webook.com is also building out pay-per-view capabilities for sports events, including boxing, and exploring multi-angle viewing to create a more immersive streaming experience.

Tackling fraud and enhancing security

Ticket fraud remains a widespread issue in the live events industry, and webook.com is taking aggressive measures to address it. Over the past year, the platform has nullified 40,000 black market tickets and shut down more than 5,000 fraudulent accounts.

“We have also launched a verified resale platform, which has facilitated the sale of over 200,000 tickets through official channels,” said Bakhsh.

In addition to digital safeguards, the company is pursuing legal action against major black market platforms.

“While fraudsters continuously adapt, our dedicated anti-fraud team works proactively to stay ahead, ensuring a safe and seamless experience for our users,” he added.

Strengthening sports ticketing presence

Webook.com has recently secured a three-year partnership with the Roshn Saudi League to manage ticket sales for football matches, reinforcing its role in the sports sector.

“This partnership aligns perfectly with our mission to be the gateway for entertainment,” Bakhsh said. “It allows us to strengthen our presence in sports ticketing while providing fans with a seamless booking experience on one platform.”

Future plans include exclusive fan content, loyalty programs, and community-driven in-app features.

“For the league, it ensures a reliable and fraud-free ticketing system while expanding reach through webook.com’s growing user base,” he said.

From local roots to global vision

The company’s journey began under its original name, Halayalla, which Bakhsh said was limiting in terms of international reach.

“Our former and original brand had a very local flair but didn’t translate internationally and wasn’t descriptive as to what we do,” he explained.

Following extensive market research and testing, the company rebranded to webook.com, a move that significantly boosted its global recognition and credibility.

IPO preparations underway

As part of its long-term vision, webook.com is actively preparing for an initial public offering. The company is enhancing its internal governance, aligning with global regulatory standards, and bringing in experienced leadership.

“Over the past year and a half, we have been hiring a CFO with IPO experience and engaging a top consultancy for an IPO readiness assessment,” Bakhsh said.

“Our three-to-four-year timeline for the listing is carefully structured, with every step aligned to ensure a smooth transition to becoming a publicly traded company.”

The company is also working with leading consultants to streamline operations and ensure full transparency under public market scrutiny.

Looking ahead

With operations already established in Morocco and Bahrain, webook.com is now focused on Europe as it charts its five-year growth trajectory.

“Our vision is to make webook.com a household name from Hawaii to Tokyo,” Bakhsh said.

To achieve this, the company plans continued investments in technology, talent, brand development, and platform security—while keeping customer satisfaction at the forefront.

“We remain committed to delivering the best possible experience for our users as the super app for fun,” he said, adding: “Our priority is ensuring users can easily discover, book, and enjoy world-class events effortlessly.”

With its momentum building, webook.com is poised to reshape the global event booking landscape through innovation, security, and a customer-first approach.

Topics: Start-up of the Week Startup of the Week SOTW

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