Saudi Entertainment Becomes Strategic Driver of Economy

 Large crowds attend Riyadh Season, SPA
Large crowds attend Riyadh Season, SPA
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Saudi Entertainment Becomes Strategic Driver of Economy

 Large crowds attend Riyadh Season, SPA
Large crowds attend Riyadh Season, SPA

Over the past decade, Saudi Arabia’s entertainment sector has shifted from an activity with limited influence to one of the main drivers of economic diversification under Vision 2030.

After years in which the sector was viewed as marginal or seasonal, it has become an integrated industry covering major events and festivals, concerts and international shows, cinema and artistic production, gaming and esports, entertainment tourism, and the restaurant and retail sectors linked to events.

The transformation has been reflected economically through the attraction of billions of riyals in local and international investment, the creation of thousands of jobs for young people, and higher domestic spending that might otherwise have flowed abroad. It has also stimulated related sectors such as hospitality, aviation, and transport.

Since its establishment in 2016, the General Entertainment Authority has played a central role in building and accumulating the sector’s regulatory infrastructure and attracting international events, turning cities such as Riyadh and Jeddah into regional hubs for events and entertainment.

As a result, entertainment is no longer merely a consumer activity. It has become an economic, investment, and cultural tool that contributes to improving the quality of life and strengthening Saudi Arabia’s position as a regional and global destination.

320 million visitors

General Entertainment Authority Chairman Turki Alalshikh said that over 10 years of continuous work, Saudi Arabia’s entertainment ecosystem had developed through more than 39 seasons and 21 entertainment programs, offering diverse experiences and drawing more than 320 million visitors.

He said this had helped consolidate the country’s global presence in the sector.

Alalshikh thanked Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman for their “unlimited” support in establishing the General Entertainment Authority and building an integrated entertainment sector in the kingdom.

The chairman of the General Entertainment Authority had previously disclosed that the estimated brand value of Riyadh Season had reached $3.2 billion, reflecting the major growth in the season’s global reputation and confirming that it had become one of the leading entertainment brands in the Middle East and the world.

During the previous edition of Riyadh Season, he said the event included 11 main entertainment zones across the capital, 15 international championships, and 34 exhibitions and festivals, with the participation of more than 2,100 companies across various fields.

Local companies accounted for 95% of the total, through 4,200 contracts signed with the private sector, reflecting the empowerment of national talent and the growing contribution of the private sector to the local economy.

Tourism economy

In this context, the World Travel and Tourism Council, WTTC, recently said Saudi Arabia’s tourism sector was the largest in the Middle East.

It said the total contribution of travel and tourism to the kingdom’s economy reached about $178 billion in 2025, accounting for 46% of the Middle East’s tourism economy, according to the council’s methodology, which includes the sector’s direct and indirect contribution to gross domestic product.

The economic impact report said the total contribution of travel and tourism to Saudi Arabia’s GDP grew by about 7.4% in 2025, nearly double the global average growth rate of 4.1%.

At the regional level, Saudi Arabia exceeded the Middle East average growth rate of 5.3%, reinforcing its position as the fastest-growing tourism market in the region.

The figures underscore Saudi Arabia's regional leadership in tourism and its rapid growth since the start of the comprehensive transformation path outlined by Vision 2030.

The report pointed to business travel as one of the key enablers of growth in Saudi tourism, noting the kingdom’s emergence as a central hub for conferences, exhibitions and major international events. This strengthens its position as a leading global tourism destination with diverse demand drivers.

The WTTC report confirms the continued growth of Saudi Arabia’s tourism sector, a trend reflected in various global and local reports.

Saudi Arabia recently issued the Vision 2030 annual report for 2025, which showed strong performance in the tourism sector last year. The total number of domestic and inbound tourists reached about 123 million, further strengthening the kingdom’s position as a leading global tourism destination.



Copper Crawls Higher on Softer Dollar and Supply Issues

FILE PHOTO: A coil of copper rod sits on the production line for copper flat wire at the Wellascent factory in Ganzhou, Jiangxi province, China, August 14, 2025. REUTERS/Florence Lo/File Photo
FILE PHOTO: A coil of copper rod sits on the production line for copper flat wire at the Wellascent factory in Ganzhou, Jiangxi province, China, August 14, 2025. REUTERS/Florence Lo/File Photo
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Copper Crawls Higher on Softer Dollar and Supply Issues

FILE PHOTO: A coil of copper rod sits on the production line for copper flat wire at the Wellascent factory in Ganzhou, Jiangxi province, China, August 14, 2025. REUTERS/Florence Lo/File Photo
FILE PHOTO: A coil of copper rod sits on the production line for copper flat wire at the Wellascent factory in Ganzhou, Jiangxi province, China, August 14, 2025. REUTERS/Florence Lo/File Photo

Copper prices edged higher on Friday, supported by a weaker dollar and supply issues, but gains were modest due to worries about high oil prices hitting demand.

Benchmark three-month copper on the London Metal Exchange rose 0.5% to $14,319 a metric ton in official open-outcry trading. That marked a decline of 2% since the end of last week.

"Metals have seen light turnover again so far this session with copper finding some support with a slightly softer dollar, but the broader tone remains cautious," Neil Welsh, head of metals at broker Britannia Global Markets, said in a note.

"High energy costs stemming from the ⁠ongoing US-Iran conflict and ⁠signs of industrial weakness in China have weighed on sentiment across the complex."

The dollar index hit its strongest in 17 months this week, but weakened on Friday, making commodities priced in the US currency cheaper for buyers using other currencies.

LME copper has gained 16% over the past six months, largely due to a large shift in ⁠inventories to the US attracted by the prospect of tariffs there, creating shortages elsewhere.

Stocks in warehouses monitored by the Shanghai Futures Exchange <CU-STX-SGH> have slumped by 79% over the past four months to 38,744 tons, their lowest since January 2024.

The SHFE was closed for China's National Day and will reopen on October 8.

The prospect of less output in the world's largest copper producer Chile has also underpinned the market, with data on Wednesday showing production fell 12.8% year-on-year in August.

Supervisors at Chile's Escondida copper mine, the world's largest, rejected a collective ⁠contract offer, ⁠paving the way for a potential strike and adding to supply fears.

"This adds to an overall slump in output, as the industry struggles to maintain aging infrastructure amid difficult operating conditions," Reuters quoted Daniel Hynes, senior commodity strategist at ANZ, as saying in a note.

Among other metals, LME aluminium dipped 0.1% in official activity to $3,121.50 a ton and nickel also shed 0.1% to $15,620.

Zinc rose 0.2% to $3,732.50, lead ticked 0.3% higher to $1,863 and tin was little changed at $54,350.


Eurozone Inflation Hits Three-year High at 3.8% in September

FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach/File Photo
FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach/File Photo
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Eurozone Inflation Hits Three-year High at 3.8% in September

FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach/File Photo
FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach/File Photo

Eurozone inflation jumped to 3.8 percent in September, the highest level in three years, as the war in the Middle East fueled a surge in energy costs, official data showed Friday.

The figure for the 21-country euro area was up sharply from 3.2 percent in August and remains well above the European Central Bank's two-percent target, raising the likelihood of another interest rate increase.

The September reading published by the statistical office of the European Union was slightly higher than the 3.7 percent forecast by economists for Bloomberg.

As the US war against Iran drags on, the conflict has caused major disruptions to fuel supplies from the Middle East, including from the Strait of Hormuz, a key energy trade route.

Energy price increases surged to 18.8 percent in September, up from 14.3 percent a month earlier, AFP quoted Eurostat as saying.

Core inflation, which strips out volatile energy and food prices, rose to 2.5 percent last month from 2.4 percent in August.

Meanwhile, food and drinks inflation increased to 1.4 percent from 1.1 percent in August.

Eurozone inflation was last above 3.8 percent in September 2023, when it stood at 4.3 percent.


World Food Prices Near Four-year High in September

A street food vendor pushes a cart along the road in Ho Chi Minh City on October 2, 2026. (Photo by Nhac NGUYEN / AFP)
A street food vendor pushes a cart along the road in Ho Chi Minh City on October 2, 2026. (Photo by Nhac NGUYEN / AFP)
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World Food Prices Near Four-year High in September

A street food vendor pushes a cart along the road in Ho Chi Minh City on October 2, 2026. (Photo by Nhac NGUYEN / AFP)
A street food vendor pushes a cart along the road in Ho Chi Minh City on October 2, 2026. (Photo by Nhac NGUYEN / AFP)

World food prices rose in September to their highest in nearly four years as logistics disruptions and weather concerns affected crop markets, the United Nations' Food and Agriculture Organization said.

Fears about a severe El Nino weather pattern have pushed international sugar prices to an 18-month high, while a war-related collapse in Black Sea trade pushed wheat futures to a three-year peak early last month.

The FAO ⁠Food Price Index, ⁠which tracks monthly changes in international prices for a basket of food commodities, averaged 136.0 points, up from a revised 134.0 for August and the highest reading since November 2022.

FAO's benchmarks for cereal, sugar and vegetable oil ⁠prices all rose last month, though meat and dairy quotations fell.

“We are seeing a persistent and increasingly broad-based build up in global commodity prices, as disruptions in the Strait of Hormuz and the Black Sea combine with climate shocks, putting pressure on energy, transport and key food commodities,” FAO Chief Economist Maximo Torero said, according to Reuters.

“If sustained, these pressures will soon pass through to consumer food ⁠prices, especially ⁠in food and energy import-dependent countries,” he said in a statement.

In a separate report, FAO kept its forecast for global cereal production in 2026 almost unchanged at 2.979 billion metric tons, 2.1% below the previous year's peak but still the second-largest harvest on record.

FAO cut its forecast for world cereal trade in 2026/27 by 0.7% from September, citing lower wheat and maize export expectations due largely to constrained Black Sea shipping routes.