Saudi Arabia to Become Global Leader in Entertainment Parks: Report
Saudi Arabia's entertainment parks sector is booming, fueled by Vision 2030 goals to diversify the economy and boost tourism. The Kingdom is rapidly emerging as a dominant force in the global entertainment parks industry. Boston Consulting Group (BCG) recently released a report titled 'Entertainment Parks Industry: Trends & Opportunities for Saudi Arabia.' The report highlights Saudi Arabia's ambitious plans to diversify its economy with entertainment parks playing a central role in this strategy.
The report revealed that two-thirds of Saudis express enthusiasm for visiting theme and water parks, signaling robust local demand. Over 10 new parks are underway, positioning the Kingdom as a global entertainment powerhouse. Global Trends Meet Local Ambitions
The $70 billion global entertainment park industry grows at 5% CAGR, driven by tech innovation and immersive experiences. Saudi Arabia now integrates gamified attractions, IP partnerships, and themed hospitality, mirroring global trends. 'Saudi's strategy blends local demand with global benchmarks,' Managing Director and Partner at BCG, Devanshu Mathur, said. Innovative Projects and Developments
Projects like Six Flags Qiddiya and Aquarabia promise groundbreaking rides, themed zones, and retail-dining hubs. NEOM recently partnered with Warner Bros. Discovery to launch immersive attractions, amplifying Saudi's appeal. These ventures align with a 20% Compound Annual Growth Rate (CAGR) in IP-themed hospitality, enhancing overnight stays for 40% of visitors.
BCG data shows 90% of Saudis would visit local parks yearly, with 67% open to repeat visits. This demand could spur job creation, tourism growth, and $1.2 billion in annual revenue by 2030. Mathur noted, 'Expanding regional access will solidify Saudi's global standing while boosting GDP.' Market Impact and Future Outlook
Upcoming projects in Riyadh, Jeddah, and Al Khobar aim to bridge this divide. By leveraging partnerships and tech like VR, Saudi Arabia aims to rival Orlando and Dubai, attracting 30 million annual visitors by 2030.
Survey data reveals that 90% of respondents visit parks annually, while sixty-seven percent plan multiple trips for immersive experiences. The Kingdom continues investing billions in infrastructure, technology, and innovative projects that align with Vision 2030 objectives and market trends. New park developments include record-breaking roller coasters, interactive water rides, and diverse attractions that appeal to families and thrill-seekers alike.
With strategic investments and global collaborations, Saudi Arabia's entertainment sector is set to redefine leisure tourism, delivering unmatched experiences for a diverse, tech-savvy audience. Ultimately, the Kingdom emerges as a premier entertainment hub that inspires innovation, drives economic growth, and strengthens the Kingdom's status.
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