Saudi Arabia's exhibitions sector: the fastest growing in the G20, adding 10 billion
The exhibitions and conferences sector in Saudi Arabia is undergoing a radical transformation and experiencing exceptional growth, positioning itself among the fastest-growing sectors in the G20. This achievement is a direct result of Saudi Vision 2030, which aims to diversify national income sources and reduce dependence on oil. The sector has become a vital economic driver, contributing approximately 10 billion riyals to the GDP.
Vision 2030: The main driver of the renaissance
Prior to the launch of Vision 2030, the exhibitions and conferences sector operated at a relatively limited pace. However, with the implementation of the Vision's programs, the Saudi government prioritized the development of this sector, recognizing its pivotal role in attracting foreign investment, boosting trade, and solidifying the Kingdom's position as a global hub for business and events. The General Authority for Exhibitions and Conferences was established to regulate and oversee the development of the legislative and regulatory environment, facilitating investor entry and creating an attractive and competitive environment.
Broad economic impact and growing global influence
This growth not only added 10 billion riyals to the economy but also created thousands of direct and indirect job opportunities in supporting sectors such as hospitality, transportation, logistics, and tourism. The Saudi exhibitions and conferences market has recorded annual growth of approximately 10%, a rate exceeding that of major G20 economies. Internationally, the Kingdom has successfully attracted and organized major global events such as the Future Investment Initiative (FII), the LEAP technology conference, and the World Defence Exhibition, further solidifying its reputation as a destination capable of hosting major international events. Riyadh's winning bid to host Expo 2030 represents the culmination of these efforts and promises to open new horizons for growth and development.
Advanced infrastructure and a surge in the number of companies
This rapid growth is supported by a massive development in infrastructure, with the number of approved venues for exhibitions and conferences across the Kingdom's cities rising to 923, all equipped with state-of-the-art technology and facilities. This increase reflects the readiness of Saudi cities to host events of any size. Perhaps the most striking indicator of the sector's attractiveness is the dramatic surge in the number of companies operating within it, which has jumped from approximately 400 in 2018 to over 17,000 today. These figures underscore the rapid transformation of the business environment and the growing confidence of local and international investors in the future of this promising sector as an integral part of the new and diversified Saudi economy.
