As Saudi Arabia’s Crown Prince Mohammad bin Salman Al-Saud moves to diversify the economy and reduce the Kingdom’s dependence on oil, it was revealed today that $64B will be invested in the entertainment sector over the next decade. At a press conference in Riyadh, General Entertainment Authority chief Ahmad bin Aqeel Al-Khatib said the money will come from both the government and the private sector.
The plans include Saudi’s first opera house after concerts had been banned for the past two decades. This follows the recent lifting of a 35-year ban on public movie theaters, opening up a what is expected to be a lucrative market. It all falls under the progressive Crown Prince’s Vision 2030 program. These sorts of reforms are revolutionary in what has been an ultra-conservative Kingdom. Women were recently granted the right to drive and attend football matches.
Overall, the GEA said this week that 2018 would be an “unprecedented year of culture and entertainment.” The calendar includes more than 5,000 events, offering a diverse lineup of live entertainment and designed to appeal to all of Saudi society.
Source: Yahoo News
Friday, February 23, 2018
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