Deals worth $800m signed at largest-ever Saudi Agriculture exhibition

Deals worth $800m signed at largest-ever Saudi Agriculture exhibition

RIYADH: While globalization and technology continue to reshape the world’s social and economic frontiers, art and culture are also becoming key forces for economic growth and social progress.

Saudi Arabia is not immune from this, and the creative industries are a crucial part of the Kingdom’s Vision 2030 strategy for economic diversification and social transformation. 

The culture sector is expected to generate $20 billion in revenues and create hundreds of thousands of jobs under the plan, with the aim of increasing the contribution of the sector to Saudi Arabia’s gross domestic product to 3 percent.

Culture, whether in the form of art, fashion, food, entertainment and technology, is part of the country’s plans for a future beyond oil.

While governments around the world, particularly in the UK and the US, have been cutting state expenditure for the arts, Saudi Arabia has been increasing its investment to capitalize on the Kingdom’s great potential to become both a regional and global player in the cultural realm.

Speaking during a panel discussion at the Future Investment Initiative forum in Riyadh, Royal Commission for AlUla CEO Amr Al-Madani said Vision 2030 had made it clear the sector is an “indispensable driver for our quality of life.” 

He added: “We do