Saudi Arabia’s entertainment sector is set to create 450,000 jobs and contribute 4.2 per cent to the country’s gross domestic product by 2030, according to a new report. This is reported by
Arab News.

In its latest release, the Kingdom’s Ministry of Investment said 34 entertainment investment licences were issued in the third quarter of the year, a 13 per cent increase compared to the previous three months. The number of licences issued in the entertainment sector from 2020 to the end of the third quarter reached 303. 

“In line with Saudi Vision 2030, Saudi Arabia aims to diversify its economy and enhance the quality of life by promoting tourism and Saudi culture internationally to attract visitors. The entertainment sector is a crucial pillar in achieving these ambitious goals, focusing on enhancing the quality of life through various cultural and entertainment activities,” said the Ministry of Investment.

The rapid pace of development of the entertainment sector is in line with the Kingdom’s Vision 2030 goals to reduce years of dependence on oil revenues. In 2016, Saudi Arabia established the General Entertainment Commission to boost the leisure and entertainment industry. Since then, the Kingdom has seen many significant changes, including the reopening of cinemas in 2018. 

According to the report, 2,189 licences have been issued in the entertainment industry over the past five years. The Kingdom also held 26,000 events over the same period, attracting more than 75 million visitors. The ministry said the burgeoning entertainment sector is also contributing to the growth of the tourism industry in the country.

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