Tourism & Quality of Life
Tourism & Quality of Life Overview
Of all new sectors being unlocked by Saudi Arabia’s Vision 2030, none are undergoing more profound and visible transformations as the tourism and quality of life sectors. The Kingdom has opened its doors to international leisure tourism for the first time in 2019, with unexplored destinations adding massive potential on top of an already established religious tourism market.
At the same time, new entertainment, culture, and sports attractions are being unleashed every day for residents and tourists alike, providing excellent first mover advantages for investors in the nascent stages of a booming industry. Although this sector is still in its early stages of growth, it has already exhibited great potential in satisfying international and local investors’ needs.
Explore Saudi Arabia's
Tourism & Quality of Life Sector
Overview
Following the opening of Saudi Arabia to international tourism in 2019, tourism has become one of the country’s highest growth potential sectors. Saudi Arabia is already the MENA region’s largest destination for travelers and accounts for about one-fifth of the MENA’s travel and tourism GDP. With capital investment for tourism set to rise to more than $54 billion over the next 10 years, Saudi Arabia expects to attract over 100 million local and international visits per year and become a leading international tourism hub by 2030.
- 100M
local and international tourists per year by 2030 - 10%
sector contribution to GDP by 2030, from 3% today
Value Proposition
New, unexplored global tourist destination
Diverse tourism infrastructure projects with high international standards
Exclusive destinations on the world tourism map
Rich ancient cultural heritage and breathtaking iconic sights
Overview
Saudi Arabia’s entertainment and culturesectors have been going through a complete overhaul since the launch of Vision 2030, driven by an improved quality of life for all. Following Saudi Arabia's opening to international entertainment and culture in 2019, entertainment has emerged as one of the most important economic sectors. As 80% of Saudis' entertainment dollars are spent outside of the country, Saudi Arabia’s booming culture and entertainment sector represents a new way of life as well as an important driver of economic growth. This provides an abundance of investment opportunities for national and international investors across all segments of the entertainment market
- $57BN
investment requirement to build entertainment infrastructure by 2030 - 11
entertainment seasons launched across the Kingdom
Value Proposition
Ambitious vision to enrich the lives of citizens and residents
Offering enormous opportunities
Exclusive destinations on the world tourism map
Strong government backing to unlock the sector’s business potential
Overview
Historically, the Saudi sports industry was wholly reliant on government funding but following Vision 2030’s reforms, the government is aiming to accelerate the growth of the sports industry by increasing the role of the private sector within it. Saudi Arabia has launched a number of initiatives, including the Quality of Life Program, which aims to increase mass participation in sports among Saudi men and women, while growing the sports economy. The Kingdom's ultimate goal is to increase the number of competitive sports clubs and competitive athletes, which presents appealing opportunities for investors to develop and fully own sports clubs, academies, and centers in Saudi Arabia.
- $320M
private sector investment committed through clubs’ sponsorships until 2023 - $670M
committed to support sports clubs in achieving financial maturity and privatization
Value Proposition
Ambition to become the ideal destination for major international sporting events
Government commitment to grow the sector
Tourism & Quality of Life Opportunities
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