The Cultural Development Fund (CDF) concluded a successful participation at the 2026 Annual Meeting of the World Economic Forum, held from January 19 to 23 in Davos, Switzerland. This marked a historic milestone for Saudi Arabia, representing the first major showcasing of Saudi culture at the world’s leading economic forum and positioning culture as a key contributor to global economic dialogue.
Hosted at the Saudi House, the CDF engaged more than 200 international experts, including prominent economists, investors, and industry leaders. Through a series of high-impact activities—such as a networking breakfast, a panel discussion, and beneficiary talks on the NextOn platform—the Fund highlighted culture not only as a creative and artistic expression, but as a vital economic engine and a strategic pillar of national development.
Leadership Vision for Economic Diversification
During a Davos panel discussion, CDF CEO Majed Al-Hugail reinforced Saudi Arabia’s belief in culture as a catalyst for economic diversification and enhanced quality of life. He noted that by 2030, the cultural sector is expected to contribute $48 billion to the Kingdom’s GDP, generate more than 346,000 jobs, and attract approximately 22 million visitors.
The CDF emphasized the critical role of financing in enabling entrepreneurship and unlocking the full economic potential of the cultural sector. As part of the NextOn talk series, Princess Noura bint Saud bin Naif, Co-Founder of AlMashtal Creative Incubator, delivered a session titled “Culture as Economic Infrastructure: Unlocking Human Capital Through the Creative Industries.” Additionally, Eng. Khalid Alhenaidy, CEO of the Arabian Housing & Building (AHB) Company, shared insights during a discussion on “The Value in Cultural Assets.”
Driving Global Partnerships, Investment
Looking ahead, the CDF organized six strategic side meetings focused on exploring new opportunities and building international partnerships to accelerate the growth of Saudi Arabia’s cultural sector and attract global investment. The Fund also distributed 150 copies of its flagship investment report, Saudi Cultural Market Outlook 2025: Vision, Impact, and Opportunities, developed in collaboration with the Ministry of Culture, the Ministry of Investment, and the Invest Saudi initiative.
Saudi Creativity on Global Stage
Further highlighting Saudi creative excellence, the CDF showcased 60 cultural products from Samuda, a beneficiary brand in the fashion sector. This initiative underscored the rising economic importance and global potential of Saudi Arabia’s fashion market.
This milestone reflects the CDF’s commitment to serving as a center of excellence and a financial enabler for the Kingdom’s cultural sector. It reaffirms ongoing efforts to elevate Saudi culture internationally while maximizing its economic and social impact in alignment with the ambitious goals of Saudi Vision 2030.
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