Riyadh city
Saudi Arabia offers three most prominent investment opportunities in the tourism and quality of life sector. These opportunities include the development of theme parks, waterparks, and family entertainment centers, Invest Saudi said in the Investment Highlights Spring 2021 report.
The investment required to set up theme parks is nearly $1.9 billion, which includes construction and operation of 15 theme parks in 13 cities across Saudi Arabia, to expand the current offering in large cities and build new ones in smaller cities.
The opportunity is in line with recent government initiatives to boost tourism and hospitality in the Kingdom, including the launch of tourist visas. Theme parks are high in the list of preferred entertainment activities among Saudis, the report added.
Cumulative spending in Saudi Arabia’s entertainment sector is expected to reach $58 billion by 2030 and the revenue generated from amusement park visits are estimated to increase from $6 million in 2019 to $21 million by 2030, according to the report.
The report also estimated that waterparks require investments of $720 million, which include construction and operation of six waterparks in five cities in Saudi Arabia, in line with the goals of Vision 2030. It aims to let the Kingdom become an international entertainment destination, through raising the quantity and quality of offerings for locals, expats and tourists.
With regard to the development of family entertainment centers (FECs), the report indicated that the investment required depends on individual projects. It is represented in the construction and operation of 21 FECs in three large cities, 20 in three medium cities, and 41 in seven small Saudi cities.
The investor can choose from multiple investment models, including full private investment, public-private-partnership and pure operation model with government ownership.
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