Saudi Minister of Sport Prince Abdulaziz bin Turki bin Faisal praised on Wednesday the Saudi leadership's support for the sports sector, which has driven its growth and elevated its global recognition.
Speaking at the 2025 Budget Forum, the minister highlighted the sector's significant role in boosting tourism, noting that over the past four years, 80 international events have attracted 2.5 million tourists.
For instance, Formula 1 in Jeddah welcomed attendees from 160 countries, created 20,000 jobs, and generated a SAR 900 million economic impact on the city.
The minister underscored the private sector's vital role in the sports industry, saying 14 clubs have been offered for privatization, attracting interest from 25 companies, with notable attention from international investors.
He also highlighted the success of the Nafis platform, which has licensed 2,000 academies and 500 clubs, enabling some to transition into operating as companies.
Moreover, Prince Abdulaziz emphasized the global reach of Saudi sporting events, including the Saudi League, which is broadcast in over 160 countries. The international visibility has resulted in substantial investment and strengthened the global presence of Saudi sports.
