Saudi Arabia and the United Kingdom are seeking further investment in sports during the British-Saudi Sports Investment Forum, held yesterday in London, reported the Saudi Press Agency (SPA).
The forum saw the convergence of the Ministries of Investment and Sports together with 100 senior officials and investors in both UK and Saudi Arabia.
Organized by the Federation of Saudi Chambers represented by the Saudi-British Business Council, the forum delved into the current bilateral sports cooperation and the ambitious goals to develop sports sector in the Kingdom.
The event was part of the UK-Saudi Sustainable Infrastructure Forum that took place in London on Monday.
The forum shed light on urbanization, sustainable city development, and financing, including the scaling up of green technologies and renewable energy solutions.
The CEO of the Saudi Electronic Sports Federation, Turki Al-Fawzan, indicated that 67% of Saudis are actually fans of games and electronic sports.
Furthermore, the Director of Sports Sector Investment Development at the Ministry of Investment, Basem Ibrahim, explained that the size of the sports market in the Kingdom is highly increasing estimated at about 30 billion riyals.
Ibrahim noted that the market size is anticipated to reach 84 billion riyals by 2030.
Moreover, the meeting shed light on the following topics:
- Sports technology
- Esports
- Sports infrastructure
- Partnership opportunities
- Hosting major sports tournaments
- Foreign acquisitions
- Available investment opportunities between both Kingdoms
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