Saudi Arabia’s Entertainment Sector to Offer 450,000 Job Opportunities
The entertainment sector has catalysed tourism, hosting 26,000 events over the past five years with over 75 million attendees.
Saudi Arabia’s entertainment sector is set to offer 450,000 job opportunities with a forecasted contribution of 4.2% to the Kingdom’s GDP by 2030, aligning with ongoing efforts to diversify the economy, according to a new report by the Ministry of Investment.
The report underscored that 34 investment licenses were issued in the entertainment sector during the third quarter of 2024, marking a 13% increase from the previous quarter. Since 2020, a total of 303 licenses have been granted, with 2,189 licenses issued over the past five years.
The entertainment sector has catalysed tourism, hosting 26,000 events over the past five years and attracting more than 75 million attendees. In 2023 alone, inbound tourism linked to the entertainment industry reached 6.2 million visitors - a 153% increase compared to 2022. This surge contributed SAR 4 billion in inbound tourist spending, marking a 29% rise from the previous year.
Domestically, the sector drew 35 million local tourists in 2023, a 17% increase compared to 2022. However, local tourist spending showed a slight decline of 8.5%, totaling SAR 4.7 billion.
The inauguration of the General Entertainment Authority (GEA) in 2016 has been pivotal in shaping the sector, reintroducing cinemas in 2018 and creating platforms for large-scale events. This development strategy continues to drive investment and expand offerings, including plans to double the capacity of floating hotels. The Ministry of Investment is also partnering with the Embassy of the Kingdom of the Netherlands, Aspire Company, and other organizations in boosting the entertainment sector.
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