Job search
Job Search
Latest news
More news: (showing 1 - 20 of 13727)           
UK only International

Saudi Arabia plans US$13.3bn investment into lifestyle destinations

By Tom Anstey    04 May 2018
Saudi Arabia's King Salman inaugurates the Qiddiya entertainment Project
The entire benefit from this big spending will be for the private sector, and this supports the 2030 Vision that strengthens its role
– Ahmed al-Khatib, GEA chair

Saudi Arabia's government has revealed plans to invest SAR50bn (US$13.3bn, €11.2bn, £9.9bn) into entertainment, health, sports and education initiatives, as the country attempts to modernise and improve its citizens' quality of life.

Announced yesterday (3 May) by the Kingdom's General Entertainment Authority (GEA), it is understood that the investment will generate upward of 300,000 jobs by 2020.

“Government spending on the initiatives will total around 60 per cent of the investment, with 40 per cent from the private sector,” said Ahmed al-Khatib, GEA chair, speaking to Reuters.

“The entire benefit from this big spending will be for the private sector, and this supports the 2030 Vision that strengthens its role.”

Part of Saudi Arabia’s Vision 2030 plan – which like much of the Middle East is aiming to reduce reliance on oil – includes a relaxation of the rules on its entertainment sector in an area which traditionally has been ultra-conservative, with particularly harsh laws in relation to women's rights.

In the announcement, Khatib listed three theme parks, a waterpark, museums and more cinemas as part of the initiative. By 2030, Saudi Arabia wants to have more than 450 clubs providing a variety of cultural activities and events, with the aim of doubling household spending on recreation to 6 per cent.

Among projects announced, Six Flags has confirmed plans to develop its first theme park in Saudi Arabia as part of the Kingdom’s new entertainment destination in Qiddiya. National Geographic is also eyeing the market, with ambitions of expanding its Ocean Odyssey attractions, developing up to 10 new locations across Saudi Arabia. In March, plans were announced for the country’s first ever Museum of History of Science and Technology in Islam, and a Cultural Centre at the World Heritage site in Diriyah is currently under development, with designs by Zaha Hadid Architects (ZHA). In July last year, the government allocated SAR9.9bn (US$2.6bn, €2.3bn, £2bn) to develop and rebuild the country’s tourism projects, with a number of initiatives approved.

Saudi Arabia  entertainment  health  education  General Entertainment Authority  Vision 2030  theme park  museum  waterpark  cinemas 
Sign up for FREE ezines
Related news

Company profile

Company profile: Taylor Made Designs
Taylor Made Designs (TMD) is a ‘leisure specialist’ provider of bespoke leisure workwear, plus branded retail and promotional merchandise.
View full profile >
More company profiles

Featured Supplier

Elevate registrations soar: a record-breaking start to Elevate 2024
Elevate, the premier event in the physical activity, fitness, sports therapy and performance sector, is thrilled to announce that registrations for its 2024 conference are now live – and the response has been nothing short of exceptional.
View full details >
More featured suppliers

Property & Tenders

Location: Loughton, IG10
Company: Knight Frank
Location: Grantham, Leicestershire
Company: Belvoir Castle
Location: Verwood, Dorset
Company: AVISON YOUNG
Location: Hall Place House, Bexley, DA5 1PQ
Company: London Borough of Bexley
Location: 15 Concessions across the nation's forests
Company: Forestry England
More properties & tenders

Diary dates

11-14 Apr 2024
Exhibition Centre , Cologne, Germany
22-24 Apr 2024
Galgorm Resort, York
10-12 May 2024
China Import & Export Fair Complex, Guangzhou, China
23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
More diary dates