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Culture & GDP Growth in Saudi Arabia by 2030

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1 month ago

6th October 2025

Huda Az

In Saudi Arabia, culture plays a crucial role in the nation's development by preserving cultural heritage and strengthening national identity.

In Saudi Arabia, culture is an essential component of the nation’s overall development process. Maintaining cultural heritage and bolstering national identity depend heavily on its function.

In fact, the Kingdom’s culture is a major driver of economic growth, helping to diversify revenue streams and boost GDP. Our essay will examine how culture might boost GDP by 2030.

Cultural Investment Conference

The King Fahd Cultural Centre in Riyadh hosted the opening of the “Cultural Investment Conference” 2025 last Monday, September 29. Notably, senior decision-makers and cultural leaders from Saudi Arabia and beyond attended the conference, organised by the Ministry of Culture, with over 1,500 participants and more than 150 presenters.

During the inaugural conference, which occurred in the capital, Riyadh, the creation of the “Riyadh University of Arts” was announced, and various agreements totalling around 5 billion riyals were signed to advance the Saudi cultural industry.

In response, Prince Badr bin Abdullah bin Farhan, Saudi Culture Minister, announced the founding of the Riyadh University of Arts, which will help to supply the cultural sector with innovative and talented individuals. According to Prince Badr, “The ministry seeks to position the university among the top 50 international universities specialising in the arts, emphasising that culture has become an influential factor with measurable factors, scalable models, and long-term value.”

The Amount Invested in KSA’s Cultural Sector

By 2024, 1,700 foreign investors had entered the Saudi market, bringing the total amount of foreign direct investment in the cultural sector to $500 million. Small business owners, like artists and creatives, make up the majority of these investors.

In the meantime, Saudi Arabia is trying to draw in new businesses in the creative arts industry. As it has done in advanced technology and entrepreneurship, it also aims to create “unicorn” businesses (startups valued at $1 billion) in this industry.

According to the Saudi culture minister, the cultural sector is a viable area for direct employment development and generates a multiplier effect of up to $2.5 for every dollar invested. He mentioned that initiatives are in place to fund thousands of students and train about 5,000 individuals to earn degrees related to Vision 2030.

Monitoring the GDP contribution of the culture sector revealed that it had already surpassed half of the goal. The proliferation of cultural enterprises and the quickening of licensing processes are the causes of this growth. The objective is to treble the industry’s size by 2030 while keeping culture at the centre of the creative sector and its unifying function across other areas. All within the larger framework of creating a diversified economy based on the integration of culture, tourism, and sports.

The Cultural Sector Since the Vision’s 2016 Launch

Saudi Arabia’s cultural sector has undergone a historic transformation with the introduction of the Kingdom’s Vision, becoming a significant economic lever. By 2024, it employed 235,000 people, its GDP contribution increased to 1.6 per cent, and the amount of money it received in support had grown to around $2 billion. At the same time, infrastructure spending surpassed 81 billion riyals, setting a new record.

According to Saudi Investment Minister Khalid Al-Falih, 1,700 entrepreneurs are investing in the entertainment, cultural, and artistic sectors out of 52,000 licences and commercial registrations for foreign investors in Saudi Arabia. He underlined that the Ministry will assist the cultural sector by determining its needs, drawing in investors, offering funding, and setting up seminars to promote admission into the community.

The Saudi Ministry of Culture’s official spokesperson, Abdulrahman Al-Mutawa, responded by saying that the newly established Riyadh University of the Arts aims to become a premier educational hub for creative education. This initiative seeks to enhance educational programmes in cultural fields through collaboration with leading global academic institutions, employing a methodology that integrates theoretical and practical learning.

Furthermore, scholarships will be given to exceptional cultural skills. The university in the Arqa area of Riyadh will open in the first quarter of 2026, providing full details about its services and entrance requirements. Thirteen colleges representing numerous cultural fields will be part of the institution.