Saudi Entertainment and Amusement Summit and Expo is set to return to Riyadh next month

The Saudi Entertainment and Amusement Summit and Expo, including exhibitors from all over the world demonstrating the most cutting-edge developments in the industry, is scheduled to return to Riyadh the following month.

As part of its social and economic reform in line with Vision 2030, the Kingdom is stepping up efforts to build its entertainment, cultural, and leisure market into a multibillion-dollar business.

The public sector has seen a significant transition since the programme's beginning in 2016, with sustainable towns being created along the country's coasts and in its deserts, as well as a massive influx of foreign investment.

According to experts, the entertainment and leisure market would increase by more than 47 percent annually to reach a value of $1.17 billion by the end of the decade, and Saudi Arabia expects to invest $64 billion in it between 2020 and 2030.

This grand plan will be demonstrated at the SEA Expo, which will be held concurrently with the Saudi Light and Sound Expo.

"The outlook for Saudi Arabia's entertainment, leisure, and tourism market over the next seven years is overwhelmingly optimistic," said Sarkis Kahwajian, director of SEA Expo. "Saudi Entertainment Ventures, a subsidiary of the Public Investment Fund, plans to invest $13.3 billion to develop 21 integrated entertainment destinations in 14 cities, and the Saudi General Entertainment Authority has issued licences for more than 24 theme parks and 421 entertainment centres.

"Saudi Arabia is unmatched in its ability to rapidly grow and cultivate its entertainment and leisure industry. At this year's expo, we want to demonstrate how the industry has evolved over the last few years through our summits and on the show floor and showcase what it has to offer over the next ten years."

The Ministry of Investment's Bahaa A. Abdulmajeed, business development manager for tourism and entertainment, concurred.

He told Arab News, "The Saudi entertainment sector is significantly bigger currently. It is structured into two primary pillars: live entertainment like the Riyadh Season and Jeddah Season, and destination entertainment like theme parks, water parks, and entertainment complexes like Qidiya and Seven.

"Today, the Jeddah and Riyadh calendars, which have events throughout the year instead of seasons, are used. The plan is to replace seasons with a year-round calendar of entertainment activities in the target cities.

Another important area of concentration for the entertainment industry has been international partnerships.

Seven has worked with a variety of international brands, including Warner Bros. Discovery, Clip 'n Climb, and Mattel to help create new entertainment locations, in addition to purchasing a 100 percent ownership in the Saudi division of US-based AMC Entertainment Holdings.

The calendars of Jeddah and Riyadh, which include events throughout the year rather than seasons, are utilised today. The idea is to replace seasons in the target locations with an entertainment calendar that runs all year long.

International relationships have been a key area of focus for the entertainment sector.

In addition to acquiring a 100 percent ownership stake in the Saudi subsidiary of US-based AMC Entertainment Holdings, Seven has collaborated with a range of worldwide brands, including Warner Bros. Discovery, Clip 'n Climb, and Mattel to help build new entertainment places.