RIYADH: The market value of Saudi Arabia’s sports business is expected to increase from $8 billion to $22.4 billion by 2030 due to a rise in investments and increased attention to the sector. Since 2019, the Kingdom has hosted more than 100 significant international events in 40 different sports, according to a study published by SURJ Sports Investments, a firm under the Public Investment Fund.
This expansion is in line with Vision 2030’s objective of making the Kingdom a major center for international sport and entertainment. According to Statista, the Middle East and North Africa sports market is expected to generate $5.57 billion by 2029, up from $4.79 billion in 2024.
The Kingdom hosts major events such as the Saudi Cup horse race, the FIFA Club World Cup, and several Formula 1 races in Jeddah. “The Kingdom formally won the right to host the 2034 FIFA World Cup in December, marking the culmination of these efforts,” said Danny Townsend, CEO of SURJ Sports Investments. Financial investments demonstrate Saudi Arabia’s dedication to the advancement of sports. According to SURJ’s report, the sector’s share of the Kingdom’s GDP increased from $2.4 billion in 2016 to $6.9 billion in 2019.
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