Saudi authority to invest $64bn in entertainment

Saudi Arabia will invest $64bn in its entertainment sector during the next decade, an official said on Thursday, part of the kingdom’s plans to attract tourists and investors to the country. "We will invest 240 billion [Saudi] riyals over 10 years," Ahmed al-Khateeb, head of the General Entertainment Authority, said, adding that the amount will come from both the government and investors. The kingdom has already begun construction of its first opera house, he said. In 2017, the authority organised more than 2,000 events across the kingdom, which were attended by 8 million people, al-Khateeb added. This year, the authority is planning around 5,500 entertainment events in 48 cities in Saudi Arabia.


Source: Yahoo News