Saudi Arabia’s General Entertainment Authority has announced 29 new investment opportunities targeting six sectors within the entertainment industry. This initiative, in partnership with the Ministry of Investment, aims to expand the Kingdom’s entertainment offerings and encourage private sector involvement, aligning with the goals of Vision 2030.
The sectors targeted include facilities, destinations, water parks, adventure parks, virtual reality parks, and e-gaming centers. These efforts are designed to boost growth, drive economic diversification, and promote sustainable development within the entertainment industry.
The initiative also aims to empower both local and international private sectors while enhancing the quality of life for citizens and residents. By focusing on infrastructure development in these areas, Saudi Arabia reinforces its strategic goal of becoming a global entertainment hub, supporting the Quality of Life Program, a key element of Vision 2030.
The investment opportunities are expected to significantly impact the sector, potentially creating 450,000 jobs and contributing 4.2 percent to the national GDP by 2030. Vision 2030 seeks to transform the entertainment sector by increasing household spending on recreation from 2.9 percent to 6 percent by 2030, generating over SR120 billion ($31.9 billion) in investments, and creating 100,000 direct and indirect jobs.