The Entertainment Sector in Saudi Arabia: Vision 2030 and Economic Transformation
After decades of dependence on oil and gas, Saudi Arabia announced its ambitious Vision 2030 as an alternative plan aimed at diversifying national income sources and ensuring sustainable development. The country has dedicated significant efforts and resources to developing non-oil economic sectors, improving their efficiency, and increasing their contribution to the GDP.
One of the key sectors that received special attention is the entertainment sector. Saudi Arabia established the General Entertainment Authority and Saudi Entertainment Ventures (SEVEN), a subsidiary of the Public Investment Fund (PIF). Additionally, the government introduced new regulations and incentives to encourage private sector participation.
As a result, Saudi Arabia has achieved significant gains, attracting billions of dollars in investments both locally and internationally. Over four years, the number of attendees at entertainment events exceeded 46 million, while the number of event days surpassed 26,000 days. The sector also created 101,000 job opportunities for Saudi youth.
Since Mashroo3k Consulting always supports its claims with data, here are the key statistics of the entertainment sector:
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In 2019 alone, the number of entertainment events reached 690, totaling 9,784 event days, with 34,699,458 attendees.
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In 2018, the number of archaeological, heritage, and history museums was 33, attracting 1,083,099 visitors.
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The number of private museums in 2018 was estimated at 195.
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Saudi Arabia has 8,499 archaeological sites, with 178,020 visitor permits issued.