14 Jan 2025
RIYADH: Saudi Arabia’s General Entertainment Authority has unveiled 29 investment opportunities targeting six key sectors of the industry.
The initiative, in collaboration with the Ministry of Investment, aims to expand the Kingdom’s entertainment landscape while fostering private sector participation and aligning with Vision 2030 objectives.
The targeted sectors include facilities, destinations, water parks, adventure parks, virtual reality parks, and e-gaming centers.
These opportunities are designed to enhance growth in the entertainment sector, drive economic diversification, and promote sustainable development.
According to the GEA, the initiative also seeks to empower the private sector within Saudi Arabia and internationally, while improving the quality of life for citizens and residents.
By focusing on infrastructure development across these entertainment segments, the initiative reflects Saudi Arabia’s strategic commitment to becoming a global entertainment hub. This effort also supports the Quality of Life Program, which is a core pillar of Vision 2030.
These investment initiatives are set to play a significant role in boosting the sector as projections indicate that the sector will generate 450,000 jobs and contribute 4.2 percent to the country’s gross domestic product by 2030.
Vision 2030 aims to transform Saudi Arabia’s entertainment sector by increasing household spending on recreation from 2.9 percent to 6 percent by 2030.
It seeks to generate over SR120 billion ($31.9 billion) in investments, create 100,000 direct and indirect jobs, and enhance the sector’s contribution to the economy.