Thursday 22 February 2018

Saudi Arabia to invest $64 bn in Western-style entertainment in next decade

Saudi Crown Prince Mohammed bin Salman attends the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24. Photo: Reuters

Saudi Arabia announced plans today to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would be unthinkable not long ago.

Long known for its ultra-conservative mores, the kingdom has embarked on a wide-ranging programme of social and economic reforms driven by Crown Prince Mohammed bin Salman.
At a glitzy press conference in Riyadh, General Entertainment Authority chief Ahmad bin Aqeel al-Khatib told reporters the kingdom is set to invest $64 billion in its entertainment sector over the coming decade.

"We are already building the infrastructure," Khatib said, adding that ground had been broken for an opera house.
"God willing, you will see a real change by 2020," Khatib said, adding that more than 5,000 events were planned for the coming year.

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