The Riyadh Season events are emerging as a key economic driver, drawing both local and international capital. Private sector companies see it as a rewarding opportunity due to the substantial increase in attendance, which reached over 20 million last year, double the 10 million who attended the inaugural 2019 season.
Turki Al-Sheikh, Chairman of the General Entertainment Authority, said a press conference will be held on Aug. 28 to unveil significant surprises during the upcoming edition.
Experts believe this year’s Riyadh Season will attract even more visitors, pointing to the efforts of the General Entertainment Authority that align with the government’s goal of reaching 150 million annual visitors by 2030.
Businessman and entertainment investor Majid Al-Hokair told Asharq Al-Awsat that the upcoming edition will feature some of the world’s largest entertainment events. He expected a wide range of exciting developments and major surprises, highlighting the substantial support and growth potential of the sector in the Kingdom.
The entertainment industry in Saudi Arabia is becoming increasingly attractive to both foreign and local companies seeking profitability in a high-traffic sector, he noted.
He underscored the General Entertainment Authority’s efforts to facilitate company investments in all events related to Riyadh Season and other activities across the Kingdom.
The country has introduced and amended regulations to encourage and simplify private sector involvement in economic activities, he remarked, adding that the entertainment sector is crucial for national income, job creation, and attracting both international and local investments.
Legal Advisor and Professor Dr. Osama Ghanem Al-Obaidi told Asharq Al-Awsat that tourism plays a vital role in driving the national economy by creating numerous jobs and generating foreign currency. Tourism contributes about 5% to global GDP and is a major source of foreign currency for many countries.
He further noted that Riyadh Season helps position Saudi Arabia as a global hub for major entertainment events.
The Riyadh Season is a vital opportunity to introduce Saudi Arabia to the world, particularly the capital city, improving quality of life through entertainment and boosting the country’s status as a global tourist destination in line with Vision 2030, he concluded.
The General Entertainment Authority recently launched a business services platform through the Saudi Business Center to streamline and facilitate the processes for starting and operating businesses. This initiative aims to simplify access for companies to all investment-related requirements in this sector.
Additionally, the authority introduced a business accelerator to support startups in the entertainment sector and its various fields, aiming to expedite their growth, build capabilities, and facilitate connections with investors.
