Saudi Arabia’s Ambitious Plan for Tourism Growth by 2030
Saudi Arabia has set an ambitious target to attract over 100 million visitors annually by 2030. Beyond its well-established religious tourism, the Kingdom is making significant strides in expanding its leisure and entertainment sectors. This push is part of a broader strategy to diversify the economy and reduce dependence on oil.
The General Entertainment Authority has been at the forefront of this transformation, issuing licenses for 24 new theme parks and over 421 entertainment centers. Additionally, more than 350 theatres and 2,500 screens are expected to open across the Kingdom in the next five years, generating over 30,000 jobs by 2030.
A major catalyst for this expansion is the Events Investment Fund (EIF), established by Crown Prince Mohammed bin Salman. This fund aims to create over 35 entertainment venues by the end of the decade. The Kingdom’s gaming industry, already a billion-dollar sector, is projected to grow by 250% by 2030, underscoring the dynamic growth in this area.
Mishal Al Hokair, President of MENALAC and Deputy CEO of Al Hokair Group, highlighted the scale of the transformation: “The development of over 24 theme parks and more than 421 entertainment centers, combined with the impact of major projects like The Red Sea Project, NEOM Mega City, and Riyadh Entertainment City, will drive both inbound and outbound tourism. Our leisure and entertainment industry is on track to reach a value of $1.17 billion by the end of the decade.”
The forthcoming Saudi Entertainment and Amusement (SEA) Expo, scheduled for 28-30 May at Riyadh’s International Convention Center, will be a significant event for the industry. It will gather stakeholders to explore opportunities, discuss infrastructure developments, and address challenges to ensure a vibrant and diverse entertainment landscape.
Furthermore, a substantial $750 million construction contract has been awarded to Qiddiya Investment Company for developing one of the region’s largest waterparks.
Al Hokair added, “The KSA leisure and entertainment market holds immense growth potential. MENALAC members are fully committed to participating in SEA Expo and supporting the Kingdom’s evolving entertainment sector with innovative concepts. Our goal is to create new job opportunities and contribute to the objectives of Vision 2030.”
With these efforts, Saudi Arabia is poised to become a global hub for leisure and entertainment, reflecting its ambitious vision for the future.
