Saudi Arabia’s Entertainment Flourish: 450,000 Jobs on Horizon
Saudi Arabia’s entertainment sector is expected to generate 450,000 jobs and contribute 4.2% to the GDP by 2030. According to the Ministry of Investment’s latest report, Saudi Arabia issued 34 entertainment licenses in Q3 2024, marking a 13% increase from the previous quarter.
From 2020 until Q3 2024, the Kingdom issued 303 investment licenses in the entertainment sector. This growth reflects Saudi Arabia’s commitment to Vision 2030, which aims to diversify the economy and improve quality of life through culture and tourism.
Boosting Economy and Tourism
The entertainment sector plays a crucial role in reducing Saudi Arabia’s reliance on crude oil revenues. Established in 2016, the General Entertainment Authority (GEA) has spearheaded the development of this industry. It has led to the reopening of cinemas in 2018 and other major advancements.
Over the past five years, Saudi Arabia issued 2,189 entertainment licenses. The Kingdom has also hosted 26,000 events, drawing over 75 million attendees. This growth has positively impacted the tourism sector, fostering increased international and local visitation.
Local Tourism Impact
The number of inbound tourists in Saudi Arabia’s entertainment sector hit 6.2 million in 2023, an impressive 153.3% increase from 2022. Additionally, inbound tourism spending reached SR4 billion ($1.07 billion), up 29.03% from the previous year.
In 2023, the entertainment sector attracted 35 million local tourists, a 17% increase from 2022. However, local tourist spending in 2023 slightly declined by 8.5%, reaching SR4.7 million.
Vision 2030 Driving Growth
Aligned with Saudi Vision 2030, the Kingdom aims to diversify its economy, enhance quality of life, and promote Saudi culture globally. The entertainment sector plays a pivotal role in achieving these goals by offering diverse cultural and entertainment activities.
The Ministry of Investment emphasized that the entertainment sector is vital for tourism growth, driving higher spending and strengthening the local economy. Through hosting diverse events, the Kingdom continues to attract both local and international visitors.
