The General Authority for Small and Medium Enterprises (Monsha’at) announced the organization of “Sports Week,” a strategic initiative aimed at empowering entrepreneurs and owners of small and medium enterprises operating in the sports sector, and providing them with the necessary tools for their growth and sustainability in a promising market that is witnessing radical transformations.
General context and the Kingdom's Vision 2030
This event is being organized as part of the comprehensive national efforts to achieve the goals of the Kingdom's Vision 2030 , which prioritizes diversifying national income sources and reducing dependence on oil. The sports sector is a key pillar of the Vision's programs, particularly within the "Quality of Life Program," as the Kingdom seeks to transform sports from a mere recreational activity into a fully integrated economic industry that contributes effectively to the GDP and creates quality job opportunities for Saudi youth.
Historically, the sports sector in the Kingdom has witnessed significant transformations, from the privatization of sports clubs to hosting major international events, opening up vast investment opportunities. Monshaat is working to ensure that emerging and small national companies benefit from this momentum by providing them with the necessary support to become active participants in this growing ecosystem.
The importance of "Sports Week" and its expected impact
The significance of “Sports Week” lies in its role as a comprehensive platform that brings together entrepreneurs, experts, investors, and relevant government entities, such as the Ministry of Sports. The week is expected to include a series of workshops and panel discussions addressing vital topics such as: funding mechanisms, digital marketing strategies in the sports sector, innovation in sports technology (SportTech), and the efficient management of sports facilities and events.
Locally, the event will raise awareness of investment opportunities in diverse sectors such as sports academies, fitness centers, sporting goods retail, and event management. It will also help build the capacity of entrepreneurs and equip them with the skills needed to meet market challenges, leading to the creation of strong and sustainable economic entities.
Regionally and internationally, such initiatives enhance the Kingdom's position as a leading regional hub for the sports industry. Building a strong and innovative private sports sector is essential for attracting foreign investment and forging international partnerships, thus solidifying the Kingdom's image as a global destination for both sports and business. Empowering local facilities is a strategic step towards exporting Saudi expertise and services in the sports field to neighboring and global markets in the future.
