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The world’s newest major sports player Saudi Arabia aims to have a sports sector worth $21bn (£16.5bn) by 2030.
It comes as the Gulf state confirmed the sector was currently worth $8.5bn (£6.7bn) in 2025 having been worth just $1.3bn (£1bn) in 2016.
The entirety of the UK’s sports sector contributes around £100bn to the economy.
Saudi Arabia are set to host the 2034 Fifa World Cup, becoming the second Middle Eastern host after Qatar, while they’re eyeing a bid for the Olympic Games.
The kingdom has risen to prominence as a sports destination city with the likes of Riyadh Season – which mainly sees boxing take place in the nation – and Formula 1.
Elsewhere the likes of Cristiano Ronaldo and Sadio Mane are playing in the Saudi Pro League, and the nation is dipping its toes into Sailing and E1 racing.
Saudi Arabia on the rise
“The Ministry of Investment is working in an integrated partnership with the Ministry of Sports, the Public Investment Fund, sports federations, and all relevant entities to enable investors to enter the sports market with ease and transparency, based on modern legislation,” assistant minister of investment Ibrahim Al-Mubarak said at the Sports Investment Forum.
“This is achieved through initiatives [involving] the sports sector, which includes infrastructure such as the construction of stadiums [and] training complexes; sports services such as marketing, media, sponsorship, and consulting services; sports technologies; and sports tourism, specialising in the development of tourism programs and packages that attract visitors to attend tournaments or practice sports in the kingdom.”
Saudi Arabia, through its numerous private and public companies from the likes of airlines to the Public Investment Fund, has over 900 sponsorship agreements and deals across the world of sport.
