The Kingdom's Vision 2030 saw the entertainment sector as an important pillar in economic transformation, an important source of diversifying sources of income, providing job opportunities, attracting local and foreign investment, as well as its contribution to stimulating the tourism sector, so it had a precise plan that made the Kingdom's cities global destinations for entertainment.
How has entertainment become an economic engine in the Kingdom?
The beginning was the establishment of General Entertainment Authority in 2016, a group of specialized official bodies to coordinate and regulate the sector and ensure its contribution to achieving the goals of the Kingdom's vision. Indeed, the entertainment events, including concerts, seasons and festivals organized by the Authority have become the focus of the world's attention, and the reopening of cinemas was a pivotal step that opened the door to rapid growth in the entertainment sector.
Reopening cinemas was a pivotal step that opened the door to the rapid growth of the entertainment sector.
According to an official report, entertainment is expected to contribute about 4.2% of GDP by 2030.
The number of licenses in the entertainment sector during the last five years reached about 2189 licenses. The number of events organized during the last five years reached about 26 thousand events with more than 75 million participants and visitors, and it is expected that the entertainment sector will provide about 450 thousand new jobs by 2030, especially in light of the growth in the number of events and events.
The number of licenses in the entertainment sector during the last five years reached about 2189 licenses.
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