Huge growth of the sports economy in the Kingdom
Deputy Minister of Sports, Bader Al-Qadi, confirmed that the size of the sports sector market in the Kingdom of Saudi Arabia has witnessed exceptional growth, and is expected to reach 80 billion riyals by 2030. This came during a dialogue session within the “Saudi Budget 2026” forum, where he highlighted the radical transformation that the sector is witnessing as an integral part of the Kingdom’s Vision 2030.
The judge explained that this remarkable leap is the result of an ambitious national strategy, with the market size increasing from just 5 billion riyals in 2016 to 32 billion riyals last year. He emphasized that achieving these targets depends primarily on a “complete partnership with the private sector,” which is considered the main driver of development and growth in this vital field.
Vision 2030: The primary driver of sports transformation
This development comes within the broader context of the Kingdom's Vision 2030, which aims to diversify the economy away from oil and improve the quality of life for citizens and residents. Sports are seen as a key pillar in achieving these goals, not just as a recreational activity, but as an integrated economic sector that contributes to the GDP, creates jobs, and promotes public health.
Massive government investment, coupled with opening the sector to private investment, has revolutionized sports infrastructure and increased community engagement. The judge noted that the number of sports clubs has tripled since 2015, and the number of privately owned sports facilities has risen to 4,300, reflecting growing confidence in the viability of sports investment.
Hosting the 2034 World Cup and its economic impact
The Kingdom's hosting of the 2034 FIFA World Cup is the culmination of these efforts and a strong incentive to accelerate development projects. In this context, the Deputy Minister of Sport revealed ongoing work, in partnership with the private sector through the National Center for Privatization, to develop world-class sports facilities, such as the Prince Faisal bin Fahd Stadium in Riyadh, to ensure its readiness to host this global event.
Hosting such major events is not only important from a sporting perspective, but also has broad economic and social impacts. It attracts global tourism, enhances the Kingdom's international standing, and creates a dynamic economic cycle that directly benefits the private sector through increased sponsorships, which have already jumped from 580 million riyals to 1.8 billion riyals, and by opening new horizons in the hospitality, transportation, and logistics sectors.
