Riyadh Season. Entertainment... Culture Economy
Abdulaziz Alissa
Riyadh SeasonRiyadh Season is no longer just a passing entertainment event, but has turned into a huge economic locomotive and an effective compass in the process of diversifying the Saudi economy, exceeding its entertainment goals to become an integrated platform for investment opportunities and supporting GDP, in line with the targets of the Kingdom's Vision 2030.
Riyadh Season <The season is a living model for promoting social, cultural, sports and economic mobility. Past editions have succeeded in attracting huge crowds of visitors; in its last edition, the season welcomed more than 20 million visitors from 135 countries, and the brand recorded a market value of more than 3.2 billion dollars in two years. These huge figures demonstrate the Kingdom's success in activating domestic tourism and significantly increasing tourism spending, which introduces its diverse assets and resources to the world.
The economic impact is evident in the Kingdom's ability to attract huge crowds of visitors. <The economic impact of the season is clearly evident in the real estate sector, where the influx of visitors led to a significant increase in the pace of short-term rentals, and hotels and furnished apartments witnessed a rise in occupancy rates, which at one point reached 19% increase in hotel bookings during the first three months of the last season. This rise brings meaningful returns for real estate owners and enhances competition between owners and operators by upgrading services and adopting advanced and early booking methods, which enriches the user experience.
Half of the hotels and furnished apartments have seen a rise in occupancy rates, which at one point reached 19% increase in hotel bookings in the first three months of the last season.
<The Riyadh Season is an economic hive of activity, contributing to more than 25,000 direct jobs and more than 100,000 indirect jobs, as well as seasonal and sustainable investment opportunities. In addition, about 2,100 national companies participated in the implementation of the season's recent events, accounting for about 95% of the implementing companies, which emphasizes its role in supporting local content and small and medium enterprises.
Riyadh Season is not for entertainment. <The Riyadh Season is not just for recreation, but an integrated program through which deals are made and investment opportunities are shown, confirming the Kingdom's leading position in the regional and global entertainment industry. Everyone is very optimistic about the growth of these numbers and statistics in the current season.
