Entertainment Takes Center Stage

Saudi Arabia’s entertainment sector is undergoing a massive transformation, emerging as one of the most dynamic industries in the Kingdom. What was once a limited industry confined to traditional cultural events has now blossomed into a diverse and expansive landscape, encompassing music festivals, sports events, theme parks, cinemas, and much more.

The rise of Saudi Arabia’s entertainment sector is not only reshaping the cultural fabric of the nation but is also a critical component of the kingdom’s Vision 2030 initiative, which aims to diversify the economy, reduce dependence on oil, and enhance quality of life for its citizens.

This forward-looking momentum signals Saudi Arabia’s ambition to become a global entertainment hub, positioning itself alongside international cultural capitals. But what is driving this rapid expansion, and how does the future of Saudi Arabia’s entertainment industry shape up?

With an estimated worth of $2.31 billion in 2023, Saudi Arabia’s entertainment industry is experiencing rapid growth. Fuelled by a youthful population, significant investments, and a strategic vision to diversify the economy, the kingdom’s entertainment sector is poised to become a global sensation. Over the next five years, the market is expected to surge to $3.80 billion, with a projected compound annual growth rate (CAGR) of 10.44 per cent between 2023 and 2028.

A key driver of this remarkable expansion is the Development and Investment Entertainment Company (DIEC), which launched with an initial capital of $2.6 billion. The company plans to open 30-40 cinemas across 15 cities in the coming five years, with a goal of reaching 50-100 cinemas in 25 cities by 2030. Strategic partnerships with international giants such as AMC Theaters, Six Flags, and Cirque Du Soleil further highlight Saudi Arabia’s entertainment ambitions, signaling a prime opportunity for growth-focused businesses to invest in this thriving market. At the heart of Saudi Arabia’s entertainment renaissance is Vision 2030, a comprehensive reform plan. The vision seeks to transform the Kingdom into a vibrant society, a thriving economy, and an ambitious nation.

Major Investments Fueling Growth

Saudi Arabia’s entertainment sector is not just riding on goodwill; it is backed by substantial investments. The kingdom’s Public Investment Fund (PIF) is playing a crucial role in spearheading entertainment projects that promise to elevate the country’s global profile.

One of the flagship projects is Qiddiya, a vast entertainment city located just outside of Riyadh. Saudi Arabia is set to host the world’s first Dragon Ball-themed park in Qiddiya. Spanning an impressive 500,000 square metres, the park will feature over 30 rides inspired by the iconic Japanese comic, movie, and gaming franchise, making it a one-of-a-kind destination.

This Dragon Ball theme park marks a global first and is part of Saudi Arabia’s broader vision to position itself as a leading hub for tourism and entertainment. Other exciting projects in development include a cutting-edge motorsports track, a clifftop concert venue, a pioneering gaming district, a high-speed 251kmph rollercoaster, and the largest waterpark in the Middle East. The venue aims to attract millions of visitors annually and is part of the kingdom’s broader goal of boosting domestic tourism.

Similarly, the Red Sea project, an ambitious tourism and entertainment development along the western coast, aims to create a luxury destination complete with resorts, coral reefs, and nature reserves. These mega-projects, supported by multi-billion-dollar investments, are set to draw tourists and entertainment seekers from around the globe, further boosting Saudi Arabia’s entertainment credentials.

The launch of QSAS aligns with PIF’s strategy to foster local private sector growth through collaborations in construction, event management, and technology. Additionally, the company is expected to generate over 11,000 direct and indirect jobs by 2030.