Saudi Arabia Entertainment and Amusement Market Analysis And Forecast Report 2024-2032
Renub Research provided a thorough industry analysis with market share insights in a recent report titled "Saudi Arabia Entertainment & Amusement Park Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2030". Saudi Arabia Entertainment & Amusement Park Market share research is also provided for competitors, market segments, and recent advancements.
Saudi Arabia's entertainment industry, which includes sports, media, gaming, theme parks, and theatrical events, contributes significantly to the country's economic growth and job creation. In October 2016, the General Entertainment Authority was established by a royal decree to promote and diversify entertainment opportunities in the country. The entertainment and amusement sector in Saudi Arabia is on the rise.
Entertainment and amusement are:
1. Vital aspects of human existence.
2. Offering pleasure and rest.
3. A break from everyday exercises.
Entertainment can take many bureaucracies, including films, theater, music, and literature. It can transport human beings’ different worlds through storytelling and artistry. Theme parks and recreational video games, on the other hand, offer natural amusement and excitement whilst promoting social interaction and physical interest. Both types of entertainment contribute notably to mental and emotional wellbeing. They provide a damage from habitual, encourage creativity, and foster bonding with friends and family.
Saudi Arabia entertainment sector is anticipated to grow substantially in the coming years. The market is anticipated to surpass US$1,371.30 Million by 2030. The government is investing $64 billion to assist the makes contribute more than 3% of the country’s GDP, or $23 billion, and create more than 100,000 jobs. This funding will move closer to building entertainment facilities, cinemas, and entertainment complexes via Saudi Entertainment Ventures (SEVEN), which plans to expand 21 incorporated leisure complexes with over a 150 progressive points of interest throughout 14 cities within the country. In addition, the Saudi Tourism Authority is increasing into 12 new overseas offices through 2022 to promote the country of a as worldwide tourism destination. Several new companies have additionally been evolved to help culture and entertainment in the country.
The UAE has established itself as a global destination for tourism and amusement. Recently, it hosted the World Expo, solidifying its popularity. Abu Dhabi is now combining its culture and creative industries by merging museums and media segment infrastructure into one unit, the Department of Culture and Tourism (DCT) Abu Dhabi. The government plans to spend $6 billion by 2026 to create 16,000 new jobs. Dubai seeks to increase the contribution of creative arts to its GDP from 2.6% in 2020 to 5% by 2025. It plans to release new creative zones to be able to accommodate 15,000 corporations by 2025 and purpose to grow jobs from 70,000 to 150,000. Saudi Arabia's entertainment and enjoyment market is projected to grow at CAGR of 20.01% from 2022 to 2030.
Saudi Arabian citizens command the major market percentage inside the Entertainment and Entertainment industry.
In Saudi Arabia, the Entertainment and Amusement industry is predominantly advised by the kingdom's residents, who preserve the largest market percentage. This displays Saudi Arabian citizens' lively engagement and large contribution in shaping the industry landscape. As the world experiences increase and diversification, local consumer plays a pivotal function in riding demand and influencing enjoyment possibilities. Their participation underscores Saudi nationals' cultural and financial effect on the dynamic amusement market, reflecting a vibrant and evolving panorama that aligns with the numerous tastes and choices of the area populace.
The food and beverages segment are the most rapidly expanding Saudi Arabian Entertainment and entertainment market.
The Saudi Arabian entertainment and amusement industry is experiencing substantial increase, and its food and drinks sector is especially thriving. With more and more entertainment venues and activities being prepared national, there's a growing demand for superb food and beverage offerings to cater to site visitors' needs. As a result, the industry is witnessing a surge within the development of recent eating places, cafes, food courts, and different food-related corporations. This trend will hold in the coming years, making the meals and beverage sector the most unexpectedly expanding Saudi Arabian entertainment and amusement industry phase.
Jeddah's enjoyment market is booming as it has emerged as a substantial enjoyment hub in Saudi Arabia.
Jeddah's entertainment enterprise is experiencing a massive boom, solidifying its repute as an outstanding leisure hub in Saudi Arabia. The metropolis has emerged as a vibrant center for various recreational activities, catering to the evolving options of citizens and site visitors alike. Jeddah is a city that offers quite a number of amusement venues, cultural events, and leisure facilities. This demonstrates the city's willpower to promoting a thriving leisure and entertainment scene, improving the local economy, and elevating the quality of life for individuals within the future.
Key Player
Several competitors in the entertainment and enjoyment industry of Saudi Arabia, along with Al Hokair Group, AL Othaim, Fakieh Group, Jungle Land, Saudi Aramco Amusement Park, E-Plus (Event Plus), Time Entertainment, First Entertainment Company, and Belle Gate.
Market Summary:
By Nationality – Market is break up into 2 Parts
1. Nationals
2. Others
By Park Type – Market is break up into 2 Parts
1. Indoor Family Entertainment Centers
2. Outdoor Amusement Parks
By Segment – Market is break up into 4 Parts
1. Games
2. Food and Beverages
3. Merchandise
4. Sponsorship Parking, etc.
5. Park Admission
By Gender – Market is break up into 2 Parts
1. Male
2. Female
By Age Group – Market is break up into 5 Parts
1. 15-24
2. 25-34
3. 35-44
4. 45-54
5. 55 Plus
By End User – Market is break up into 5 Parts
1. With Family
2. With Spouse
3. With Friends
4. Alone
5. Other (Corporate Colleagues, Coworkers, Team Members)
By Monthly Income – Market is break up into 4 Parts
1. Less than 1200
2. 1201-3200
3. 3201-5400
4. 5401 Plus
By Region – Market is break up into 5 Parts
1. Riyadh
2. Jeddah
3. Dammam/Khobar
4. Mekkah and Madina
5. Others (Jizan, Tabouk, Taif and Al Baha, etc)
Company Analysis have been covered from 2 viewpoints
• Overview
• Recent Development
Theme Park/Amusements Park Companies
1. Al Hokair Group
2. AL Othaim
3. Fakieh Group
4. Jungle Land
5. Saudi Aramco Amusement Park
Festivals and Concerts Companies
1. E-Plus (Event Plus)
2. Time Entertainment
3. First Entertainment Company
4. Belle Gate
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