Saudi-UK Sports Investment Talks Heat Up as Kingdom’s Sector Poised to Hit $23bn
Saudi Arabia and the UK discuss investments in sports sectors, with the Kingdom’s market expected to reach $23bn by 2030.
In a bid to tap into the lucrative sports market, Saudi Arabia and the UK have engaged in discussions on investments in the sports sectors of both countries.
The UK-Saudi Sports Investment and Innovation Forum, held in London, brought together key stakeholders, including the Ministries of Investment and Sports, Saudi and British investors, and senior sports officials from both nations. The event was organized by the Federation of Saudi Chambers, represented by the Saudi British Joint Business Council, on the sidelines of the UK-Saudi Sustainable Infrastructure Summit.
Unlocking the Potential of Saudi Arabia’s Sports Market
According to Turki Al Fawzan, CEO of the Saudi Esports Federation, a staggering 67% of Saudis are passionate about electronic sports and games. Meanwhile, Basem Ibrahim, Director of Sports Sector Investment Development at the Ministry of Investment, revealed that the current size of the sports market in the Kingdom stands at approximately SR30bn ($8bn). Projections indicate that the market is set to explode, reaching SR84bn ($23bn) by 2030.
Forum Highlights Opportunities for Collaboration and Growth
The forum delved into various topics, including the hosting of mega sports tournaments, foreign acquisitions, quality-of-life initiatives, and the vast opportunities for partnerships and investments between Saudi Arabia and the UK.
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