At the tabling of Budget 2019, the Pakatan Harapan (PH) government has announced an allocation of MYR10 million to grow eSports in the country. The digital sports game industry is a rapidly growing segment and is targeted to be worth USD1 billion.
Malaysia alongside Indonesia, the Philippines, Singapore, Thailand and Vietnam are known as the “Big 6” in eSports at a regional level.
Youth and Sports Minister Syed Saddiq Syed Abdul Rahman pledged to transform Malaysia into an eSports powerhouse in Asia. The young minister believes that eSports is essential in developing the youth, especially in game development, programming, content creation, and more.
Malaysia is currently ranked 21 in global game revenue, estimated at USD587mil (MYR2.297bil) for 2017. It is estimated that there are 2.4 million e-sports enthusiasts in Malaysia (2017).
Through government initiatives and agencies like the Malaysia Digital Economy Corporation (MDEC), the local industry has the potential to grow and thrive.
eSports is gaining traction and mainstream acceptance, and will be included as a full-medal event at the 2022 Asian Games. The International Olympic Committee is also mulling over its inclusion in the 2024 Olympic in France.
For more Budget 2019 updates, visit vernonchan.com/tag/budget-2019.
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