Shanghai breaks ground on $898 million esports center

In Shanghai’s push to become a global esports hub, the city has started construction on its massive Shanghai International New Cultural and Creative Esports Center. The center will span 500,000 square meters and cost ¥5.8 billion, roughly $898 million USD. Shanghai plans for the center to be a global hub for esports teams and companies. It will also have an attaching hotel for visiting teams and spectators. The facility will also be large enough for companies and teams to base their organizations out of.

After hosting last year’s League of Legends World Championships, Shanghai wants to build on this success for future esports events. If this new Esports Center fulfills all of its promises, Shanghai could become the locale for global tournaments.

For the last several years, esports has picked up in popularity to the point that major sports arenas are not only hosting tournaments, but they’re also selling them out. For something as big as LoL Worlds, a venue of this magnitude has been needed for some time. By building a venue solely dedicated to esports, Shanghai is planting its flag as a major stakeholder in hosting major events.

China and esports

Marketing research firm Newzoo has estimated that in 2020 alone, the esports industry generated $1.1 billion worldwide. And the country holding the largest esports market in the world? Newzoon points squarely to China. In another stunning statistic, it’s also estimated that 70% of China’s 720 million gamers play esports games. With those numbers alone, China will be able to sell out events at the Shanghai Esports Center with the Chinese people alone.

The current timeline for the Esports Center to open is not until 2024. By then, we should also know how many spectators the venue will seat for events as well. If you’ve ever wanted to attend a major international tournament in person, it may be a good idea to save your pennies for flights to Shanghai now.