RIYADH: Majed Al-Hokair, CEO of Al Hokair Group, a leading business entity in Saudi Arabia, expressed his belief that Saudi Arabia is on track to become a prominent entertainment hub in the Middle East. Al-Hokair made this assertion during the opening ceremony of the Saudi Entertainment and Amusement Summit and Expo and Saudi Light and Sound Expo held in Riyadh.
The three-day event, attended by industry experts, investors, and entertainment professionals from around the world, is showcasing the latest developments in the entertainment sector and outlining future plans. Al-Hokair spoke optimistically about the progress made by the summit, stating that it has gained significant traction and has become competitive both regionally and globally due to its diverse range of participants and integration of digital technology in entertainment.
He added, “We anticipate a high number of specialists and visitors attending the event, with engaging sessions covering various disciplines. We hope that the exhibition will contribute to a transformative shift in the entertainment industry in the Kingdom.”
Held at the Riyadh International Convention and Exhibition Center, this gathering aims to put Saudi Arabia’s thriving entertainment industry in the international spotlight. Sarkis Kahwajian, the event director for the SEA Expo, which is part of DMG Events, highlighted the significance of the event as one of the largest gatherings in the entertainment industry.
He mentioned that the summit has hosted numerous local and international brands from over 40 countries, who have showcased their innovative products and services while addressing pressing challenges in the industry.
Saudi Arabia Plans to Invest $64bln in Entertainment Market by 2030
With the Kingdom’s plans to invest $64 billion in the entertainment and leisure market by 2030, experts predict that the industry will experience an annual growth rate of over 47 percent, reaching a value of $1.17 billion by the end of the decade. The summit’s delegates will engage in discussions on various topics, including the hospitality sector, tourism strategies to captivate audiences, women’s empowerment in the entertainment industry, e-sports, and corporate investments and partnerships in the global tourism sector.
The SEA Expo, with its 350 exhibitors from more than 40 countries, will serve as a platform for showcasing new and innovative products, while the SLS Expo will present the latest event technology, professional lighting concepts, and audiovisual innovations. The focus will be on growth strategies and the future of live events. The expo will also emphasize the importance of sustainability and environmental protection.
As the event progresses, industry professionals and experts will continue to explore the immense potential of the entertainment sector in driving economic growth in Saudi Arabia, aligning with the goals of Saudi Vision 2030 to develop a vibrant entertainment and leisure industry.
