Published On: Fri, Feb 23rd, 2018

Crown Prince determined to invest in entertainment industry in Saudi Arabia

Crown Prince determined to invest in entertainment industry in Saudi Arabia

Entertainment in Saudi Arabia – BusinessTurkeyToday.com

It seems as if the world is going to witness major reforms in Saudi Arabia in the coming years. In fact, officials from Saudi Arabia’s General Entertainment Authority have declared that 5,000 events are to be organized this year only, to include the Maroon 5 concert and the Cirque du Soleil show. According to reports, the construction of the first opera house in the country was also started in Riyadh, the capital city.

Investment decision in the entertainment industry is part of a program of social and economic reform known as Crown Prince Mohammad bin Selman’s 2030 Vision. Prince Muhammad aims to reduce Saudi Arabia’s dependence on oil revenues, diversify its economy, and increase spending on culture and leisure.

In December, the Saudi Arabian government had abolished prohibitions on commercial cinemas.

Speaking to local media, officials said that by the end of 2018, they aimed to employ 220,000 people in the entertainment sector. Last year this number was reported as 17 thousand. They also said following: “In the past, investors went out of the kingdom to create demonstrations, then came to Saudi Arabia to put them on stage etc. and that will change, and everything about entertainment will be done here.”





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