Saudi Arabia’s cultural sector has secured $500 million in foreign investment and drawn 1,700 international investors, according to Minister of Investment Khalid Al-Falih.
Speaking at the inaugural Cultural Investment Conference in Riyadh, Al-Falih highlighted how the Kingdom’s push to become a global cultural hub is accelerating under Vision 2030.
“We have today over 50,000 investors in Saudi Arabia — Saudi and international — categorized in culture and creative industries,” he said. “From nothing six or seven years ago, we now have over $500 million in foreign investments, growing at double digits.”
The minister emphasized that culture is central to the Kingdom’s identity and appeal: “If you don’t have a soul as a country, nobody will want to come and visit. Riyadh and the Kingdom have become a cultural hub.”
The two-day conference, organized by the Ministry of Culture at the King Fahd Cultural Center, features 38 panel discussions and brings together investors, cultural leaders, and policymakers.
Minister of Economy and Planning Faisal Alibrahim also stressed the sector’s role in economic diversification. He revealed the cultural industry currently employs 235,000 people, with a target to triple its contribution to GDP by 2030, driven significantly by exports.Saudi Arabia has already developed 40 investment opportunities in culture, listed on the Invest Saudi platform, reflecting a strategy to blend government backing, private sector participation, and civil society engagement.