The anticipated victory of Riyadh in hosting the “Expo 2030” is projected to bolster the Saudi economy by approximately $50 billion. This significant event is expected to attract foreign investments and stimulate growth in several key economic sectors, including aviation, transportation, real estate, telecommunications, retail, hospitality, and tourism.
Riyadh surpassed Rome, Italy, and Busan, South Korea, in the first round of voting, held at the “Palace of Conferences” in Issy-les-Moulineaux, France. Economic analysts, speaking to “Al Sharq Al Awsat,” viewed this win as an international endorsement of the Kingdom’s success in executing its developmental projects derived from “Vision 2030.”
They anticipate that the expo will attract over 50 million visitors to the Kingdom, enhancing long-term investments and significantly boosting the knowledge economy. It’s also expected to contribute more than 2.5% growth to the GDP and advance the vital sectors outlined in “Vision 2030.”
Analysts predict that the anticipated revenue from the expo will be distributed across several sectors: approximately $5 billion in restaurants and hotels, around $11.5 billion in construction, $28 billion in business services and event organization, and $5.5 billion in expenditure on small-scale projects.
Moreover, “Expo 2030” is expected to create about 60,000 jobs annually leading up to the event, totaling an estimated 420,000 jobs.
