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The Saudi Entertainment and Entertainment (SEA) Expo will be held at the Riyadh International Convention Center from May 28-30, bringing together industry leaders to discuss opportunities and infrastructure developments.
Mishal Al Hokair, President of Menalac and Deputy CEO of Al Hokair Group, said: “The leisure and entertainment market in KSA has huge potential for growth, and as in the past few years, Menalac members will go all out at SEA Expo.”
“High quality and exciting local brands are now rubbing shoulders with international concepts, giving guests a huge choice. As far as Menalac is concerned, I can say that we are unwavering in our commitment to elevate the market further with exciting new concepts The Kingdom’s leisure and entertainment offerings. It is important that we commit to creating new jobs for the people of Saudi Arabia, playing our part in achieving the goals of Vision 2030.”
The event will be held according to several positive sentiments driving the industry in Saudi Arabia.
The Kingdom of Saudi Arabia (KSA) plans to attract more than 100 million tourists annually by 2030. In addition to religious tourism, Saudi Arabia’s public and private sector entities are working together to stimulate tourist numbers by offering leisure and entertainment products, diversifying Saudi Arabia’s wealthy non-oil economy.
The General Directorate of Entertainment has licensed 24 theme parks and more than 421 entertainment centers in a drive to diversify efforts outlined in Saudi Vision 2030. Over the next five years, Saudi Arabia will open more than 350 theaters and 2,500 screens, adding more than 30,000 jobs by 2030.
Furthermore, the establishment of the Fund follows a massive initiative by His Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to drive growth in the Saudi leisure and entertainment industry. launched an Events Investment Fund (EIF) that will create more than 35 entertainment-based venues by the turn of the century. What’s more, Saudi Arabia’s already thriving $1 billion gaming industry is expected to grow 250% by 2030.
Add to this the impact of gigabit projects – including the Red Sea Project, NEOM Mega City, Riyadh Entertainment City – in driving inbound and outbound tourism. If anything, the kingdom’s leisure and entertainment industry is on track to hit the $1.17 billion mark by the end of the decade, as industry experts point out. – trade arab news agency
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