SAUDI ARABIA FIFA WORLD CUP 2034: SECTORS IN SPOTLIGHT
By: An-Nahdah Editorial Team
Date: 11 January 2025
Saudi Arabia’s successful bid to host the 2034 FIFA World Cup has brought several key sectors into focus, aligning with the nation’s Vision 2030 initiative aimed at economic diversification and development. The primary sectors expected to experience significant growth and investment include:
Construction and Infrastructure
• To accommodate the World Cup, Saudi Arabia plans to build or upgrade 15 stadiums, with 11 entirely new constructions. Notable projects include the King Salman Stadium, a proposed 92,000-seat venue in Riyadh, and innovative designs like a stadium perched 200 meters above a cliff. These developments are part of broader infrastructure enhancements, including transportation networks and urban facilities, to support the influx of visitors and participants.
Tourism and Hospitality
• Hosting the World Cup is set to boost Saudi Arabia’s tourism sector, a cornerstone of Vision 2030. The Kingdom has been investing heavily in tourism infrastructure, with each proposed host city undergoing significant development to support major events across sports, arts, culture, and business. Events like the FIFA World Cup 2034 and Expo 2030 are expected to strengthen Saudi Arabia’s non-oil economy, providing business and lending opportunities for financial institutions.
Sports and Entertainment
• The World Cup aligns with Saudi Arabia’s eTorts to position itself as a global hub for sports and entertainment. The Kingdom has been hosting international sporting events, including boxing matches, Formula 1 races, and wrestling events, to enhance its global profile and provide entertainment options for its population. The World Cup will further elevate the local sports scene and inspire increased participation and development in sports.
Economic Diversification
• The anticipated influx of tourists and global attention is expected to stimulate various sectors, including retail, transportation, and services, contributing to job creation and economic growth beyond the oil industry. The World Cup serves as a catalyst for these developments, attracting foreign investment and showcasing Saudi Arabia’s commitment to modernization and openness. In summary, Saudi Arabia’s successful World Cup bid is set to invigorate the construction, tourism, sports, and economic sectors, propelling the nation’s Vision 2030 objectives and enhancing its global standing.