Saudi Arabia has announced to invest SR130 billion in culture and entertainment by 2020.
The government has liberalized its policies and aims to create the conservative kingdom as an entertainment hub.
According to Ahmad al-Mazid, who leads culture policy for Saudi Arabia, “The goal is to create a true cultural industry, with theatres, cinemas and training centres.”
The upcoming projects include, 16 entertainment complexes, an aquatic centre and three other huge leisure hubs – all part of a bid to ensure three Saudi cities make it into the global top 100 for quality of life.
Half of the population of Saudi Arabia is below the age of 25, therefore, it has been decided to launch “Quality of Life Program 2020” to encourage wealthy young citizens to spend most of their leisure time in the kingdom.
Ahmed Khatib, head of entertainment policy said, “It will contribute to the satisfaction of Saudis and incentivize them to invest in their country and to stay.”
The discussion was attended by American star Katie Holmes and British actor-director Idris Elba. He said, “Saudi Arabia gave me an opportunity to make my film here, it made sense on an economical model.”
Saudi’s economy will no longer be depended on oil, this initiative aims to create new 300,000 jobs and represents a key pillar of the nation’s “Vision 2030” reforms.
The government will invest SR50.9 billion in the Cultural Revolution, while private investors and foreign partners will also investment in the program.