Saudi Arabia’s ambitious Qiddiya project, an integral part of the Vision 2030 economic diversification agenda, is rapidly transforming the outskirts of Riyadh into a global sports city.
This project has recently gained momentum with significant investments, marking a pivotal shift in the Kingdom’s economic landscape.
Economic, Job Creation Impact
The development of Qiddiya City, valued at around $2.7 billion, is a strategic move to enhance the Kingdom’s economic standing and reduce its oil dependency. This mega project will generate over 325,000 job opportunities.
It also contributes significantly to the nation’s nominal GDP, approximately $36 billion annually.
Hub of Entertainment, Sports
Envisioned to be the world’s largest tourism destination by 2030, Qiddiya is set to offer a plethora of attractions. It includes an esports hub, motorsports area, a Formula 1 race track, and golf courses.
Consequently, the project’s first phase, expected to complete soon, promises groundbreaking attractions like the Falcon’s Flight; it is also anticipated to be the world’s tallest, fastest, and longest roller coaster.
Enhancing Local Spending
Additionally, Qiddiya’s development is strategically focused on retaining the approximately $30 billion spent abroad by Saudis annually. By offering diverse and high-quality entertainment and sports facilities locally, the project aims to increase domestic spending and boost the local economy.
Visionary Urban Development
The urban design of Qiddiya, under the guidance of Saudi Crown Prince Mohammed bin Salman, aims to be a leading global destination in entertainment, sports, and culture. This aligns with the broader goal of making Riyadh one of the top 10 global economies.
Additionally, the project’s scale is vast, covering an area of 360 square kilometers, with plans to house over 600,000 residents.
Testament to Saudi Ambition
As Qiddiya takes shape, it reflects the Kingdom’s ambition for economic diversification, and dedication to creating a vibrant society.
Furthermore, the project is not just a spectacle of grandeur but a practical solution for economic growth and societal advancement.
Consequently, with a comprehensive development plan, Qiddiya will redefine leisure and tourism, setting a new benchmark for global sports cities.
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