Experts to explore $69.27bln opportunities in the leisure sector at the Saudi Theme Parks & Entertainment Confex

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Saudi Arabia

Experts to explore $69.27bln opportunities in the leisure sector at the Saudi Theme Parks & Entertainment Confex

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- More than 250 industry experts from 20 countries will discuss challenges and opportunities at the Saudi Theme Parks and Entertainment Confex, which is going to take place at the Raddison Blu, Riyadh on March 06, 2023

- Spending in leisure, amusement and theme parks in the Middle East and Africa was expected to reach US$609 million (Dh2.23 billion) in 2023;

- Customer attendance is projected to increase at a 12.2 percent compound annual rate to 13.0 million in 2023 from 7.3 million in 2018;

- UAE Government has announced that it plans to attract 40 million tourists to the country every year by 2040 with investment to the tune of Dh100 billion that will further diversify the country’s economy and reduce its dependence on oil;

- Along with direct and indirect contribution, the Middle East’s Travel and Tourism industry generates US$237 billion (Dh870 billion) worth of economic activity, according to the World Travel and Tourism Council (WTTC);

- The global amusement parks market grew from $42.68 billion in 2021 to $69.27 billion in 2022 at a compound annual growth rate (CAGR) of 62.3 percent;

- The worldwide amusement parks market is expected to grow to $140.5 billion in 2026 at a CAGR of 19.3 percent.

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