Saudi Arabia on the path to global entertainment leadership with Vision 2030

Saudi Arabia on the path to global entertainment leadership with Vision 2030
The General Entertainment Authority has been driving the sector forward with a host of events across the Kingdom, including the ‘Riyadh Season’ celebrations. General Entertainment Authority
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Updated 19 July 2024
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Saudi Arabia on the path to global entertainment leadership with Vision 2030

Saudi Arabia on the path to global entertainment leadership with Vision 2030

RIYADH: When Saudi Arabia launched the General Entertainment Authority in 2016, skeptics were doubtful about its outcome as the Kingdom was just taking its nascent steps in the sector. 

Today, Saudi Arabia stands at the forefront of leisure and entertainment in the Middle East and North Africa, driven by ambitious investments and strategic initiatives under Vision 2030. 

Under this program, the Kingdom aims to inject $64 billion into the industry by the end of the decade, accompanied by the creation of over 100,000 jobs. 

From sprawling entertainment complexes in major cities to a thriving cinema sector, Saudi Arabia exemplifies how determined regulatory policies can transform a nascent industry into a pillar of economic growth and cultural development. 

“Driven by the launch of Vision 2030, Saudi Arabia’s entertainment landscape has flourished rapidly,” said Devanshu Mathur, managing director and partner at Boston Consulting Group. 

“This transformation was initiated by the reopening of cinemas across the Kingdom in 2018, followed by the establishment of various entertainment offerings in 2019, such as Saudi Seasons and Boulevard Riyadh City, and the introduction of annual live music events like MDL Beast.”

SEVEN’s expansion




Play-Doh-themed entertainment centers will be rolled out across the Kingdom. File/supplied

A pivotal milestone in Saudi Arabia’s entertainment journey was the establishment of Saudi Entertainment Ventures, also known as SEVEN, in 2017. 

Backed by the Kingdom’s Public Investment Fund, the company is set to invest $13.3 billion with international partners to develop 21 comprehensive entertainment destinations featuring over 150 attractions across 14 Saudi cities by the decade’s end. 

In 2023, SEVEN acquired AMC Entertainment Holdings’ 85 cinema screens in Saudi Arabia, solidifying its commitment to enhancing the Kingdom’s cinematic landscape. 

“The acquisition of AMC’s stake in Saudi Arabia reflects SEVEN’s long-term strategy of bringing unparalleled experiences to the people and visitors of the Kingdom and contributing to the Saudi Vision 2030 goals,” said Abdullah Al-Dawood, chairman of SEVEN, at that time.  

In the same year, the company also signed a landmark agreement with Hasbro Inc. to introduce Play-Doh-themed entertainment centers nationwide, aimed at nurturing creativity among children while providing engaging family experiences. 

Al-Dawood added: “Children will be able to learn while having fun at our Play-Doh centers located at SEVEN entertainment destinations.”  

The centers will feature multi-level playscapes, creativity stations and sensory discovery activity spaces, as well as a café spot for parents to pass their time.  

“SEVEN is currently in its advanced stages of development. This initiative focuses on developing innovative entertainment experiences across multiple regions in KSA, targeting residents and domestic tourists,” said Boston Consulting Group’s Mathur. 

In May, Qiddiya Investment Co., owned by PIF, merged with SEVEN as part of Saudi Arabia’s broader strategy to enhance its entertainment ecosystem and accelerate the construction of the multi-billion-dollar project. 

Commenting on the incorporation, Al-Dawood at that time stated that the move supported their efforts to promote a culture of playfulness and joy among all members of society, including citizens, residents, and visitors, thereby contributing positively to societal well-being. 

He added: “The step also aims to nurture knowledge, skills, and creativity among individuals, ultimately targeting to create a new concept of fun and improving quality of life through the development of an integrated and unprecedented entertainment system.”  




Devanshu Mathur, managing director and partner at Boston Consulting Group. Supplied

Cinematic evolution

Since the opening of the first cinema hall in the Kingdom in 2018, the sector has continually evolved, with the industry generating around $240 million in 2023. 

Mathur explained: “The number of cinema screens in Saudi Arabia has surged from zero to over 600, reflecting substantial growth in infrastructure. The cinema market has seen the entry of multiple global and regional players into the Kingdom.” 

He added: “Saudi Arabia’s box office market is the 15th largest in the world.” 

Moreover, in 2020, Saudi Arabia was the only cinema market worldwide to record box office gains, successfully doubling the number of theater screens despite the challenges posed by the COVID-19 pandemic. 

“The expansion of cinemas extends beyond major cities to include 22 cities across the Kingdom. These developments underline Saudi Arabia’s rapid progress in establishing a robust and thriving cinema industry,” the Mathur added.  

In February, the Kingdom’s MEFIC Capital launched the Saudi Film Fund with a capital injection of $100 million, 40 percent of which comes from the nation’s Cultural Development Fund. 

This initiative aims to elevate local productions to international standards and marked the Cultural Fund’s inaugural investment venture. 

Global opportunities

Foreign companies seeking to enter Saudi Arabia’s entertainment sector have vast opportunities due to the industry’s nascent stage, according to a Boston Consulting Group analysis. 

The consulting firm highlighted opportunities across the entire value chain of the Kingdom’s entertainment market, from design and development to operations. 

“Some companies have imported their existing entertainment brands and concepts to the Saudi market, leveraging their reputation and operational expertise,” said Mathur.  

Notable examples include Majid Al Futtaim’s VOX cinemas and Magic Planet entertainment centers, which have successfully introduced their renowned brands to the Kingdom. 

He added: “Some companies and brands look to partner with local development companies and license their intellectual properties to capitalize on their popular IPs while expanding their market reach. An example here would be what we’re observing with Dragon Ball in Qiddiya City or Mattel with SEVEN.”  

Boston Consulting Group noted that Saudi Arabia’s entertainment sector is set for significant growth with major projects like Qiddiya City, an expansive entertainment, sports, and cultural destination near Riyadh. 

The destination will feature assets such as Dragon Ball and Six Flags theme parks, the largest water park in the Middle East, and numerous other world-class attractions. 

“These landmarks are expected to attract millions of visitors annually, including residents and domestic and international tourists, establishing Saudi Arabia as a global entertainment hub,” concluded Boston Consulting Group.

Saudi Arabia’s rapid transformation into a global entertainment hub underscores its commitment to economic diversification and cultural growth.

With ambitious projects like Qiddiya City and SEVEN’s extensive developments, the Kingdom is set to attract millions of visitors, solidifying its position as a leader in the entertainment industry.

This strategic vision not only enhances the quality of life for its citizens but also positions Saudi Arabia as a premier destination for global entertainment and leisure. 


Saudia adds 11 new global destinations

Saudia adds 11 new global destinations
Updated 14 sec ago
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Saudia adds 11 new global destinations

Saudia adds 11 new global destinations

JEDDAH: Saudia airline is adding 11 new destinations to its network this year — including Vienna, Bali, and El-Alamein — as part of its global expansion strategy, the company announced. 

The new routes also include Venice in Italy, Larnaca in Cyprus, and the Greek destinations of  Athens and Heraklion.

Nice in France and Malaga in Spain have also been added to the list.

The expansion follows a 16 percent rise in international passenger numbers last year, with the newly added destinations offering travelers more options across Europe, the Middle East, and Asia, further strengthening Saudia’s position in the aviation industry. 

The move aligns with Saudi Arabia’s National Tourism Strategy, which aims to attract 150 million tourists by 2030, create 1.6 million jobs, and boost tourism’s contribution to gross domestic product. 

Ibrahim Al-Omar, director general of Saudia Group, said: “Following last year’s operational success, we've implemented a strategic plan for 2025 to ensure continued excellence and meet rising international travel demand.”  

He added: “Our destination selection is based on comprehensive feasibility studies and guest preferences. We are committed to providing our international guests with exceptional travel experiences that combine comfort, efficiency, and authentic Saudi hospitality.” 

Also joining the network are Antalya in Turkiye, Salalah in Oman, and Bali in Indonesia, expanding Saudia’s reach to over 100 destinations across four continents. 

By growing its global network, Saudia is supporting the Air Connectivity Program, which has introduced over 60 new direct routes since its launch in 2021. 

This development strengthens the Kingdom’s position as a key travel hub under Vision 2030 and aligns with Saudi Arabia’s aviation strategy, which includes multi-billion-dollar investments to diversify the economy and support the private sector. 

Saudia said the expansion is supported by its fleet of 147 Boeing and Airbus aircraft, with plans to receive 118 new aircraft in the coming years to further enhance operational capacity. 

With more than 530 daily flights, Saudia’s ongoing international development plan aims to increase its global market share and strengthen connectivity between the Kingdom and the world. 


Egypt’s inflation eases slightly in January, driven by lower vegetable prices

Egypt’s inflation eases slightly in January, driven by lower vegetable prices
Updated 1 min 50 sec ago
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Egypt’s inflation eases slightly in January, driven by lower vegetable prices

Egypt’s inflation eases slightly in January, driven by lower vegetable prices

RIYADH: Egypt’s headline consumer price index recorded 243.5 points in January, reflecting an annual inflation rate of 23.2 percent, down slightly from 23.4 percent in December, according to official data.

Figures from the nation’s Central Agency for Public Mobilization and Statistics show that Egypt’s inflation slowdown was primarily driven by a 2.6 percent decline in vegetable prices from December to January, alongside a 0.3 percent decrease in fish and seafood prices.

Meanwhile, costs remained stable across key sectors such as education, health services, and telecommunications.

However, according to the report, some essential commodities saw notable price hikes. Bread and cereal prices rose 1.3 percent, while meat and poultry prices surged 5.0 percent.

Dairy, cheese, and eggs recorded a modest increase of 0.3 percent, and oils and fats edged up by 0.7 percent. 

The sharpest price spike was in fruits, which jumped by 9.8 percent. These price increases were key contributors to the 1.6 percent monthly inflation in January, compared to a flat reading in December.

Other sectors also experienced price increases. Personal care products rose by 1.5 percent, hospital services by 1.4 percent and furnishings and household appliances by 0.6 percent, as well as electricity, gas, and fuel by 0.1 percent, and hotel services by 3.3 percent.

Compared to January, several categories recorded substantial annual increases, the report showed.

Food and beverages rose by 20.2 percent, tobacco and alcoholic drinks by 29.5 percent, housing, utilities, and fuel by 18.7 percent, healthcare services by 40.5 percent, and transport by 33.6 percent, while education costs remained unchanged.

The steepest annual jumps were seen in postal services, which were up 94.3 percent, cultural and recreational services by 48 percent, and transport services by 39 percent.

Despite a slight moderation in annual inflation, elevated food and transport costs remain a key challenge for Egyptian households and businesses.

The rising prices of essential goods, including staples such as wheat and cooking oil, continue to strain consumer purchasing power.

Analysts expect inflationary pressures to persist in the near term, driven by a combination of currency fluctuations, global commodity price trends, and domestic supply chain constraints.

The Egyptian pound has witnessed notable depreciation, contributing to the higher cost of imports, particularly for food and energy.

In response, the Egyptian government has introduced measures such as subsidies and price controls on essential goods to contain inflation and support vulnerable segments of the population.

Efforts include increasing government-backed distribution of basic commodities and negotiating import deals to secure food supplies at stable prices.

However, structural economic reforms, including subsidy cuts and fiscal consolidation efforts under Egypt’s broader economic program, may counterbalance these interventions.

With ongoing economic reforms and external pressures, inflation trends will remain a closely monitored factor in Egypt’s economic trajectory.

Policymakers are likely to adjust monetary and fiscal measures as needed to balance growth with price stability, particularly as the country navigates global economic uncertainties and financing challenges.

The central bank’s stance on interest rates will also play a crucial role in managing inflation expectations in the coming months.


Ericsson, Mobily MoU to explore intent-driven autonomous network through AI, official says 

Ericsson, Mobily MoU to explore intent-driven autonomous network through AI, official says 
Updated 31 min 31 sec ago
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Ericsson, Mobily MoU to explore intent-driven autonomous network through AI, official says 

Ericsson, Mobily MoU to explore intent-driven autonomous network through AI, official says 

RIYADH: Saudi telecommunication firm Mobily and Swedish company Ericsson have signed an agreement to explore an intent-driven autonomous network that enhances speed, scalability, and capacity, an official said. 

Speaking to Arab News on the sidelines of the LEAP Tech Conference in Riyadh, Patrick Johansson, senior vice president and head of Market Area in Middle East and Africa at Ericsson, said that the memorandum of understanding will also explore the possibilities of bringing artificial intelligence into the telecommunications industry, which could elevate the performance of network providers. 

The agreement comes amid the continued expansion of the Kingdom’s growing telecom and information and communication technology infrastructure sector, reaching a value of $3.5 billion in 2023.

According to analysis firm Research and Markets, the sector is expected to grow at a compound annual growth rate of 7.1 percent through 2029, driven by initiatives under the Kingdom’s Vision 2030. 

“We signed an MoU with Mobily for an intent-driven network, which is very exciting because this is really bringing AI into our industry and how we make network performance even better. And as we go along through the days, we will continue to sign new agreements with direct customers and other partners as well,” Johansson told Arab News. 

He added: “This intent-driven network is very much about using the information that you have in the network to enhance performance even further, and then using AI to make sure that this is an automated functionality within the network. Basically, you can say things that you used to do by hand or by individuals are now done automatically in the system.” 

The MoU also aims to drive operational efficiency enhancements, boost service quality, and elevate user experiences among customers in Saudi Arabia. 

In a separate press statement, Hakan Cervell, vice president and head of Ericsson in the Kingdom, said that an autonomous network can change requirements dynamically without human involvement. 

“As we move toward intelligent society and industry, artificial intelligence will be integrated into almost everything — learning, adapting, and intelligently automating. We are glad to sign the MoU with Mobily to explore the potential of autonomy on their network to achieve unparalleled efficiency in service delivery and operations,” said Cervell. 

Regarding Ericsson’s presence in Saudi Arabia, the official said that the Kingdom is a fantastic market and that the company has been operating in the nation since 1978. 

He also added that the company is working with telecommunications firms like stc, Mobily, and Zain KSA to enhance customer experience.

It is also collaborating with the King Abdullah University of Science and Technology to explore the possibilities of a 6G rollout in the Kingdom in the coming years. 

“We have a very long experience and collaboration within the Kingdom. We have been here through 1G, 2G, 3G, 4G and 5G. And now, we’re looking to the future, getting into 5G standalone, 5G advanced and bringing new services,” said Johansson. 

He added: “This is the place where we have the biggest amount of spectrum available, which means that we can provide superior service together with our customers stc, Mobily, and Zain in the market. Now, we’re embarking into new opportunities as well with 6G, not around the corner, but in a couple of years. We’re working with KAUST to have research on that topic.”

During the interview, Johansson said that the establishment of Ericsson’s regional headquarters in Riyadh is helping the company serve its customers in the broader Middle East and North Africa region. 

The communication technology firm announced in January that the Kingdom will be served under a newly established Customer Unit. 

This move was part of Ericsson’s strategic ambition to simplify its organizational setup, enhance customer responsiveness, and strengthen local market accountability.

Regarding the localization of jobs, Johansson said that 60 percent of the employees in the company are Saudi nationals. 

He added that Ericsson has also been engaged in providing graduate programs for Saudi nationals over the past few years, out of which more than 50 percent of the students enrolled are females. 

Talking about the rollout of 6G, Johansson said that it is an “evolution rather than a revolution” happening in the telecommunications sector. 

“We’ve had a number of revolutions; going from fixed to mobile, but now 6G will build on 5G. So it is creating greater speeds, even lower latency, and maybe, one of the more important from a consumer point of view, it is about energy efficiency that is good for sustainability, but it’s also for battery life,” said Johansson. 

He added: “So it is basically about enhancing everything that we had in 5G and making it better. There are a few use cases that are being discussed. And again, this is why the collaboration between companies and academia is so important.” 

Affirming Ericsson’s commitment toward sustainability, Johansson said that it is crucial to properly eliminate electronic waste.

“It is about providing the latest and greatest of technology, but we need to be kind to Mother Nature as well. With one of our partners in the Kingdom, Mobily, we have already brought back more than 400 metric tonnes of equipment and made sure that it’s disposed of. So, it is creating this overall circular economy and how we work together,” he added. 

According to the Ericsson official, the use of AI is poised to revolutionize the telecommunications sector by enabling faster processing of large amounts of data.

“AI is really bringing further efficiency into our market. We have a lot of data. We used to do tweaking by hand. We added further software functionality. But with AI, we can combine so much more data, making it intent-based. We talked about the Mobily case of how we can actually make this much faster using AI technology,” said Johansson. 


LEAP 2025: AI, smart lenses, and wearable tech take center stage

LEAP 2025: AI, smart lenses, and wearable tech take center stage
Updated 45 min 8 sec ago
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LEAP 2025: AI, smart lenses, and wearable tech take center stage

LEAP 2025: AI, smart lenses, and wearable tech take center stage

RIYADH: Advanced technologies and innovative solutions were in focus at LEAP 2025, showcasing ideas that could shape industries and the future. 

Among the key presentations was the Saudi Accelerated Innovation Lab, which introduced Aramco’s Robotics Assistant, or SARA. 

SAIL, launched during LEAP 2024 by Saudi Aramco President and CEO Amin Nasser, also houses AramcoMetaBrain, a proprietary generative artificial intelligence model designed to enhance operational efficiency. 

SARA, an AI-powered voice assistant, was introduced by Ibrahim Al-Sowayigh, innovation and commercialization leader at SAIL. He highlighted its potential to meet the highest cybersecurity and operational standards. 

“In enterprises and highly regulated environments, there was one persistent problem: trust. That’s why one of the very first business opportunities we were introduced to was securing a device that can be trusted to connect to our internal Aramco network and comply with best-in-class cybersecurity requirements,” Al-Sowayigh said. 

“We needed a device that is secure, industrial-grade, with intuitive-personalized interactions. That’s when we decided to build, not buy, and SARA — our very own industrial Gen-AI tabletop voice assistant — was born.” 

Ibrahim Al-Sowayigh introduces SARA, an AI-powered voice assistant. AN

AramcoMetaBrain powers SARA, enabling it to process vast amounts of industry-specific data, interpret complex queries, and provide highly contextualized responses. The model is trained in Aramco’s proprietary operational language, equipping it to navigate the company’s guidelines and processes. 

SARA is poised for commercialization through Aramco Digital, offering enterprises a secure, integrated AI solution. 

“SARA ensures that queries and data are processed and protected on-premise, giving organizations full control over their information while benefiting from cutting-edge AI capabilities,” Al-Sowayigh said.

“This makes SARA the ideal digital companion for industries requiring the highest levels of data security and operational efficiency.” 

Smart contact lens 

Tech innovation at LEAP 2025 extended beyond AI, with XPANCEO, a Dubai-based computing firm, unveiling a smart contact lens that aims to revolutionize vision enhancement and health monitoring. 

The lens offers a full-screen, full-color augmented reality experience while functioning as a miniature laboratory for the eye. Integrated neuro-interfacing jet electrodes enable enhanced vision, including night vision and zoom capabilities. 

“This is not actually science fiction, but rather what I will try to show you today. So this is already a rapidly developing reality,” said Valentyn Volkov, scientific partner at XPANCEO. 

Dubai-based computing firm XPANCEO unveiled a smart contact lens. AN

The smart lenses, set for development in three phases, will initially improve vision in low-light conditions. The second iteration will incorporate health-tracking features such as stress levels, blood sugar, body temperature, and dry eyes. The final version aims to display visual content directly on the lenses, delivering a seamless augmented reality experience. 

Despite progress, technological and biological challenges remain, as developers seek to miniaturize smartphone capabilities into a contact lens while ensuring biological compatibility. 

A prototype was showcased at LEAP, with XPANCEO targeting a market release by the end of 2026. 

Wearable technology 

Dutch designer Anouk Wipprecht brought a futuristic vision to LEAP 2025 with her collection of robotic dresses that merge fashion and engineering. 

Her designs include a heartbeat-monitoring dress featuring a central crystal that blinks in sync with the wearer’s pulse. Another highlight, the Spider Dress, incorporates animatronic mechanical limbs and 3D-printed sensors to monitor and protect the wearer’s personal space. 

Using proximity and respiration sensors, the dress responds to external stimuli, adjusting its movements accordingly. Wipprecht noted that such designs are practical for crowded urban environments like New York, where wearers can use them to maintain personal space. 

LEAP 2025 continues to showcase innovations that challenge the status quo, reinforcing Riyadh’s position as a global hub for technological advancement.


Oil Updates — crude climbs on supply worries, Trump tariffs check gains

Oil Updates — crude climbs on supply worries, Trump tariffs check gains
Updated 11 February 2025
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Oil Updates — crude climbs on supply worries, Trump tariffs check gains

Oil Updates — crude climbs on supply worries, Trump tariffs check gains

SINGAPORE: Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and sanctions threats, despite worries that escalating trade tariffs could dampen global economic growth.

Brent crude futures were up 55 cents, or 0.72 percent, at $76.42 a barrel by 10:17 a.m. Saudi time, while US West Texas Intermediate crude rose 50 cents or 0.69 percent to $72.82.

Both contracts posted gains of near 2 percent in the prior session after three weekly losses in a row.

“It’s more financially driven and price mean aversion rather than fundamental. Brent went from over $80 per barrel (in mid-January) to $74 (last week) so its time to take the position again,” LSEG analyst Anh Pham said.

The rebound came amid signs of tightening supplies, ANZ analysts said in a research note.

ANZ analysts noted Russian oil production fell short of its OPEC+ quota in January, easing concerns of an oversupply. Output fell to 8.96 million barrels per day and is 16,000 bpd below its approved levels under the production agreement.

Shipping of Russian oil to China and India, the world’s major crude oil importers, has been significantly disrupted by US sanctions last month targeting tankers, producers and insurers.

Adding to supply jitters are US sanctions on networks shipping Iranian oil to China after President Donald Trump restored his “maximum pressure” on Iranian oil exports last week.

But countering the price gains was the latest tariff by Trump which could dampen global growth and energy demand.

Trump on Monday substantially raised tariffs on steel and aluminum imports to the US to 25 percent “without exceptions or exemptions” to aid the struggling industries that could increase the risk of a multi-front trade war.

The tariff will hit millions of tons of steel and aluminum imports from Canada, Brazil, Mexico, South Korea and other countries.

Trump last week introduced 10 percent additional tariffs on China, for which Beijing retaliated with its own levies on US imports, including a 10 percent duty on crude.

Also weighing on crude demand, the US Federal Reserve will wait until the next quarter before cutting rates again, according to a majority of economists in a Reuters poll who previously expected a March cut.

The Fed faces the threat of rising inflation under Trump’s policies. Keeping rates at a higher level could limit economic growth, which would impact oil demand growth.

US crude oil and gasoline stockpiles were expected to have risen last week, while distillate inventories likely fell, a preliminary Reuters poll showed on Monday.

The poll was conducted ahead of weekly reports from industry group, the American Petroleum Institute, due at 12:30 a.m. Saudi time on Wednesday and an Energy Information Administration report due later that day.