The Kingdom of Saudi Arabia has seen significant growth in its sports and entertainment industry, with an annual rate of 12 percent between 2018 and 2023. Officials are now encouraging UK investors to explore opportunities in the Saudi sports sector, with market value expected to hit SAR84 billion ($22.38 billion) by 2030, according to Basim Ibrahim, Director of Sports Sector Investment Development at the Ministry of Investment. This push comes as Vision 2030 initiatives have positioned Saudi Arabia as a leading global destination for athletes, competitions, and investments.
The UK-Saudi Sports Investment and Innovation Forum event in London showcased the potential for growth and collaboration in the sports industry between the two countries. With 67 percent of Saudi Arabia’s population enjoying sports and video games on their phones, there is a clear demand for leisure and sporting activities. Participants at the event discussed opportunities for sports investment, technology advancements, and esports, highlighting the importance of developing infrastructure and fostering collaborations between investors from Saudi Arabia and the UK.
The event also touched on organizing major sporting events, international mergers and acquisitions, and programs to enhance people’s quality of life. With representatives from the Ministries of Sports and Investment in attendance, along with senior officials and investors from both countries, the meeting aimed to strengthen ties and explore unique opportunities for investment and collaboration in the sports sector. As interest in leisure and sporting activities continues to grow, both Saudi Arabia and the UK are positioning themselves for a lucrative future in the sports industry.