Saudi Events: Ready for the Next Leap

Saudi Arabia’s events and entertainment sector has moved from being an “adjacent” part of the economy to becoming a more structured, investible growth pillar. Driven by Vision 2030, the market is scaling on both the demand and supply side, with stronger visitor flows, rising programming intensity, and a growing execution ecosystem. This article explains what is powering the momentum today, how the opportunity splits across MICE and entertainment, and what the next phase of growth will likely depend on.

Vision 2030 is turning events & entertainment into a core growth pillar

A few years ago, large-scale events in the Kingdom were relatively limited and episodic. Today, they are increasingly becoming part of the national growth agenda, with a more formal ecosystem taking shape around policy, capital, and institutional capacity. Vision 2030 has helped shift the narrative from extractive growth to experience-led growth, with government entities playing an active role in enabling and shaping the sector. Recent scale indicators, such as 76.9 million attendees across 1,810 events in 2024, reinforce that the category has achieved meaningful mainstream adoption. With dedicated vehicles like the Events Investment Fund supporting capacity creation, and the GEA institutionalizing the sector, the groundwork for sustained long-term growth is increasingly in place. 

Market momentum is already visible: scale-up in tourism and flagship festivals/events

The sector’s momentum is also being reinforced by a broader shift in Saudi Arabia’s tourism and destination positioning. Inbound arrivals have accelerated meaningfully, with KSA inbound arrivals surpassing the UAE in 2023, signaling a changing Gulf tourism balance and strong headroom for continued growth. Looking ahead, KSA is projected to reach 50 million inbound tourists by 2030, implying roughly 70% growth from 2024 levels, supported by large investments in tourism infrastructure and cultural attractions. At the same time, flagship events are already demonstrating mass scale, with Riyadh Season recording 20 million attendees in 2024. On the supply side, execution capacity is deepening as well, reflected in 5,526 entertainment licenses issued by the GEA in 2024 alone.

Events splits into MICE and Entertainment; both are growing 10%+, with Entertainment marginally ahead

As the sector matures, it is useful to separate the opportunity into two large markets: MICE and entertainment. In 2025, MICE is expected to account for a slightly larger share of spend (around 50–55%), with entertainment contributing roughly 45–50%. Both markets are expected to grow strongly over 2025–2030, with MICE at ~10% CAGR and entertainment marginally higher at ~11%. The growth drivers, however, differ. MICE growth is supported by increased corporate activity, rising international business engagement, and a stronger pipeline of conferences and exhibitions as Saudi expands its role as a regional business hub. Entertainment growth is driven by more frequent large-format programming, increasing variety across music, sports, and family experiences, and expanding venue and city-level calendars that support repeat visitation.

The next growth phase requires scale and integration: larger platforms + partnerships to deliver consistently

With demand expanding and capacity investments underway, the next phase of growth is likely to be shaped less by “more events” and more by how consistently the ecosystem can deliver quality at scale. Supply-side capacity is building through venues and infrastructure, with EIF planning to develop 30 event venues by 2030, and through a broader execution ecosystem, reflected in the increase in entertainment licenses issued by the GEA (5,526 in 2024 vs. 5,337 in 2023). The key unlock now is integration through stronger platforms and partnerships that bring together programming, venues, ticketing, and delivery services. This is where collaboration becomes critical: tighter coordination across stakeholders can reduce friction, improve predictability, and elevate customer experience, enabling the sector to scale sustainably without losing reliability and quality.

Taken together, the story is clear. Saudi Arabia’s events market is scaling rapidly, supported by Vision 2030, strong demand momentum, and growing supply capability. The opportunity is also structurally balanced across MICE and entertainment, with both expected to grow at 10%+ in the coming years. As the sector enters its next chapter, the winners are likely to be those who can build enduring partnerships across the ecosystem and create repeatable delivery models that stakeholders can rely on year after year.