Study: The events industry in Saudi Arabia exceeds 17.6 billion dollars
A recent study highlighted the remarkable development in the industry Events in Saudi Arabia, supported by huge government investments and increasing attention from the private sector, noting that this industry is currently in an upward path, supported by the 2030 vision that aims to diversify the economy and increase investment in the entertainment and sports sectors. "Alid Market ReservoC" For market research, which monitors the development of the events sector in Saudi Arabia during the period from 2021 to 2031, that the size of the events industry in the Kingdom of Saudi Arabia amounted to $ 6.1 billion in 2021, and it is expected to reach 17.6 billion dollars by 2031, recording an annual growth rate of 8.7% during this period of ten years. According to the study, one of the most prominent engines of economic growth in Saudi Arabia, as the government allocated huge investments for this sector, of which 2 billion dollars in 2023, in addition to 670 million dollars to support sports clubs in the private sector, and $ 320 million to care for different sports clubs. The next, especially with the growing world fame of the Saudi Football League, and the Kingdom’s readiness to host the
These tournaments attract a huge mass base, which contributes to generating revenues, by selling tickets, care, promotion, advertisements, and others. Customer loyalty, as well as achieving a positive investment return. The sponsorship sector was the largest contributor to the events market, which is expected to grow at an annual rate of 9.3% to 2031.
