Saudi Arabia’s Event Sector Poised for $3.45bn Growth by 2029
Saudi Arabia’s event management industry is set for rapid expansion over the next five years. A report by Mordor Intelligence predicts the industry will grow from $2.38 billion in 2024 to $3.45 billion by 2029.
A Hub for World-Class Events
The global market research specialists said that the Kingdom has become a vibrant hub for global events, hosting large-scale gatherings like MDL Beast, LEAP, Riyadh Season, and the Red Sea Film Festival. Upcoming international events, including Expo 2030 and the 2034 FIFA World Cup, further highlight Saudi Arabia’s growing influence in the events sector.
GCC’s Role in the Global MICE Industry
The GCC, particularly Saudi Arabia, emerged as a prime region for the global Meetings, Incentives, Conferences, and Exhibitions (MICE) industry. Saudi cities like Riyadh, Jeddah, and Dammam are becoming key MICE destinations, challenging traditional hubs like Dubai and Doha.
Driving Factors Behind the Boom
Industry experts attribute this growth to Saudi Arabia’s “open doors” policy, substantial investments in hospitality and travel infrastructure, and the integration of technology with real-world events. These factors have significantly extended the reach and engagement of events in the Kingdom.
Saudi Event Show 2024 in Riyadh
Riyadh is hosting the Saudi Event Show 2024, bringing together over 4,500 events, entertainment, and MICE professionals. Scheduled for September 11-12 at the Mandarin Oriental Al Faisaliah Hotel, the event will showcase the latest products, technologies, and services in the MICE sector. Over 100 exhibitors, including globally recognized industry names from more than 30 countries, will participate.
