The Kingdom of Saudi Arabia is absolutely committed to the development of the exhibition and convention industry, which is a recognition of its importance to the project of economic diversification: making the Kingdom less dependent on oil profits. This industry can become a major contributor to the national GDP, and developing it will certainly enhance the Kingdom's position as the business hub of the region. The Kingdom of Saudi Arabia is the largest economy in the region, and a member of the G-20, all of which will enhance its position as a center for event organization in the region.
The Kingdom of Saudi Arabia is more than capable of attracting international exhibitions, conventions and meetings, considering that it is strategically located at the crossroads of three continents, and it hosts the holiest city in Islam. In addition, it is a pioneering investment power in the region, with a solid infrastructure, with new and modern facilities and hotels, and straightforward procedures and regulations, all of which will enable it to assume a prominent position among the nations of the world.
The Kingdom always aimed in its development plans to diversify the economy, while supporting the growth of the private sector in order to reduce its dependence on oil as a major contributor to the national economy. This will provide more employment opportunities for Saudi youth, and attract foreign capital to support domestic investment projects.
To strengthen its competitive position, the Kingdom has adopted sustainable development as a strategic choice.
Aware of the importance of the meetings industry it took qualitative leaps to motivate its growth, targeting a number of economic sectors, including health, education, training, sports entertainment, commerce, housing, agriculture, information technology, culture, energy, petrochemicals and Hajj and Umrah. The result of which is the noticeable and remarkable growth in the meetings industry.
Here are some points that prove that the Kingdom is a promising destination for the meetings industry:
- The Kingdom's vision 2030
- The government's growing interest in diversifying the economy
- A private sector with a promising future
- Promising investment opportunities in the facilities of the sector
- An increasing involvement of the private sector in the industry
- High quality hotels in strategic locations
- Experience in hosting a large number of visitors
- Being the largest of the Arab Gulf countries, in terms of population and economic strength
- Highest GDP growth rate in the Middle East
- Being the biggest oil producer in the world
- Strong communication and transportation infrastructure
- Advanced specialized economic sectors: oil industry, energy, medicine, desalination and water treatment, dates and information technology
- Significant growth in academic institutions
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