Saudi Arabia To Invest $64 Billion In Entertainment

Posted by on June 16, 2018 in Reality's Edge, Religion with 0 Comments

Other measures, like allowing cinemas to be opened, have already been announced
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Image via Reuters

By BBC News

Saudi Arabia says it will invest $64bn (£46bn) in developing its entertainment industry over the next decade.

The head of the General Entertainment Authority said 5,000 events were planned this year alone, including those by Maroon 5 and Cirque du Soleil.


Construction of the country’s first opera house has also begun in Riyadh.

The investment is part of a social and economic reform programme, known as Vision 2030, unveiled two years ago Crown Prince Mohammed bin Salman.

The 32 year old wants to diversify the economy and reduce the kingdom’s reliance on oil, including by increasing household spending on culture and entertainment.

In December, the government lifted a ban on commercial cinemas.

General Entertainment Authority chief Ahmed bin Aqeel al-Khatib said: “In the past, investors would go outside the kingdom to produce their work, and then showcase it back in Saudi Arabia.


“Today, change will happen and everything related to entertainment will be done here.”

“God willing, you will see a real change by 2020.”

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