The Cultural Development Fund (CDF) successfully concluded its participation at the 2026 Annual Meeting of the World Economic Forum, held from January 19 to 23 in Davos, Switzerland, marking a historic and groundbreaking presence for Saudi culture at the world’s premier economic event.
Hosted at the Saudi House, the CDF engaged over 200 international experts, including leading economists and investors, through a series of dynamic activities such as a networking breakfast, panel discussion, and beneficiary talks on the NextOn platform. The CDF emphasized culture not only as a form of artistic and creative expression, but also as a vital economic driver and a strategic pillar for national development, SPA reported.
Reinforcing this vision, CDF CEO Majed Al-Hugail highlighted in a Davos panel Saudi Arabia's belief in culture as a pivotal force for economic diversification and quality of life. By 2030, he stated, the cultural sector is set to contribute $48 billion to GDP, create more than 346,000 jobs, and attract 22 million visitors.
The CDF also underscored the critical role of financing in empowering entrepreneurship and amplifying the economic potential of the cultural sector. Notable participants in the NextOn talk series included Co-Founder of AlMashtal Creative Incubator Princess Noura bint Saud bin Naif, who addressed “Culture as Economic Infrastructure: Unlocking Human Capital Through the Creative Industries.” Additionally, CEO of the Arabian Housing & Building (AHB) Company Eng. Khalid Alhenaidy contributed insights during a session titled “The Value in Cultural Assets.”
Looking ahead, the CDF organized six strategic side meetings aimed at exploring new opportunities and fostering collaborations to accelerate the development of the Saudi cultural sector and attract global investment. It also distributed 150 copies of the comprehensive investment report, Saudi Cultural Market Outlook 2025: Vision, Impact, and Opportunities, developed in partnership with the Ministry of Culture, the Ministry of Investment, and the Invest Saudi initiative.
Furthermore, the CDF showcased Saudi creativity by exporting 60 cultural products from Samuda, a fashion-sector beneficiary brand, highlighting the growing economic significance of the Saudi fashion market.
This milestone reflects the CDF’s commitment to serving as a center of excellence and financial enabler for the Kingdom’s cultural sector. It underscores ongoing efforts to elevate Saudi culture on the global stage, maximizing its economic and social impact in alignment with the ambitious objectives of Saudi Vision 2030.
