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Saudi Arabia to invest 64 billion in western style entertainment

Saudi Arabia to invest 64 billion in western style entertainment

Riyadh: Saudi Arabia announced plans Thursday to spend billions on buildingnew venues and flying in Western acts, in a total overhaul of itsentertainment sector that would been unthinkable not long ago.

Long known for its ultra-conservative mores, the kingdom has embarked on awide-ranging programme of social and economic reforms driven by CrownPrince Mohammed bin Salman.

At a glitzy press conference in Riyadh, General Entertainment Authoritychief Ahmad bin Aqeel al-Khatib told reporters the kingdom is set to invest$64 billion in its entertainment sector over the coming decade.

“We are already building the infrastructure,” Khatib said, adding thatground had been broken for an opera house.

“God willing, you will see a real change by 2020,” Khatib said, adding thatmore than 5,000 events were planned for the coming year.

Behind him, a screen teased the names of international acts like Maroon 5,Andrea Bocelli and Cirque du Soleil.

Neither a breakdown of how the money would be spent or a schedule for thecultural programme were provided.

But it follows a series of events in recent months including concerts, aComic-Con festival and a mixed-gender national day celebration that sawpeople dancing in the streets to thumping electronic music for the firsttime.

Authorities have also announced plans to lift a decades-old ban on cinemasthis year, with some 300 expected to open by 2030.

– ´Don´t travel´ –

The newfound openness, which includes plans to allow women to drive fromJune this year, has been hailed by some as a crucial liberalisation ofSaudi society.

Critics have pointed to continued restrictions however, especially on womenwho remain under a strict “guardianship” system that gives male relativessignificant control over their lives.

The reforms are part of Prince Mohammed´s ambitious “Vision 2030″programme, which seeks to diversify the Saudi economy as it reels from aslump in energy prices, with the entertainment sector seen as a keypotential source of growth.

Saudis splurge billions annually on movies and visits to amusement parks inthe neighbouring tourist hubs of Dubai and Bahrain, which is accessible bya land causeway.

Khatib vowed turn around that trend.

“I went to Bahrain. The bridge is being reversed,” he said, adding thatBahraini nationals were now coming to Saudi Arabia for events — accountingfor 10 percent of ticket sales in recent months.

The goal to keep Saudis — more than half of whom are under 25 — spendingtheir disposable income at home is part of a wider campaign called “Don´ttravel”.

Saudi Arabia, the world´s top oil exporter, has been struggling to copewith persistent budget deficits that began in 2014 when crude pricesplummeted.

The kingdom withdrew around $250 billion from its financial reserves in thepast four years.

Authorities have also increased fuel prices, introduced a value-added taxand cut subsidies in an effort to reduce costs and boost non-oil revenues.

The shift has been a painful one for many Saudis accustomed to a generouswelfare system.

In December, the government announced a budget with record spending as itseeks to stimulate growth. -APP/AFP