23 May 2018•Update: 24 May 2018
By Faris Kerem
RIYADH
Saudi Arabia is looking to the entertainment sector with a view to diversifying its economy away from petroleum, which has recently suffered from a decrease in international prices.
Since Mohammad bin Salman was made crown prince last summer, the kingdom has stepped up its search for alternative means of income.
In February, Saudi Arabia hosted its first-ever opera performance and jazz festival under the auspices of the Saudi Entertainment Agency, which was established in 2016.
Abdullah Meglus, a member of the Saudi Economic Association, told Anadolu Agency on Wednesday that the recent opening of public cinemas would contribute to the local culture, tourism and finance sectors.
“Public cinemas will aid in the diversification of the economy and help it grow in the long run,” he said.
The country’s first public cinema opened in April. Since then, Saudi officials have said they want to open 40 more movie theaters within the next five years.
Plans to reduce the country’s dependence on oil constitute a major plank of Saudi Arabia’s Vision 2030, a 15-year economic plan unveiled in 2016.
On Apr. 29, Saudi officials formally inaugurated the Qiddiya project in western Riyadh, which, when completed in 2022, will be one of the world’s largest entertainment parks.
Built on 334 square kilometers of land, the park is expected to be one of the region’s most expansive entertainment complexes.
Some 2.5 times larger than Florida’s Disney World, the park will feature sports, entertainment and cultural activities.
By 2030, planners hope that the park will draw as many as 17 million visitors annually.
Once the project is completed, planners hope that the billions of dollars that Saudis spend abroad on entertainment each year will remain in the kingdom.
What’s more, the project is expected to raise Saudi Arabia’s profile as a regional tourism destination while creating 57,000 new job opportunities.
*Ali Murat Alhas contributed to this story from Ankara
