The estimated total economic impact of the Saudi Arabia’s mega event – Riyadh Expo 2030 – measured by gross value added is projected to be a whopping SAR355 billion ($94.5 billion). This represents a 19% addition to the estimated non-oil GDP for 2023, with an annualized impact of 0.75% over the next 25 years, according to Al Rajhi Capital Research.
During the six-month run, Saudi Arabia anticipates to attract 246 participants and 40 million physical site visits (an estimate higher than Al Rajhi’s figure of 37.5 million visitors).
The event will be held from October 2030 to March 2031 in a futuristic city in North Riyadh. The site will span over 600 hectares, with 3.38 million sqm dedicated to experiential space and 2.62 million sqm for supporting amenities and facilities.
As a first step, the government has earmarked $7.8 billion for spending as per the masterplan for the Expo.
Similar to Dubai, the impact of the Riyadh Expo is anticipated to extend beyond the event. Unlike Dubai, Riyadh, which is not a tourist hub currently, needs to invest notably for the event, including building 100,000 hotel rooms, the economic impact over the years will be substantial, said Al Rajhi Capital Research in its report.
Source: Zawya
