Saudi cultural sector attracts $500m in FDI, 1,700 foreign investors, says Al-Falih
RIYADH: Saudi Arabia’s cultural sector has attracted $500 million in foreign investment and 1,700 non-Saudi investors, one of the Kingdom’s leading ministers has revealed.
Speaking at the inaugural Cultural Investment Conference in Riyadh, Minister of Investment Khalid Al-Falih explained how Saudi Arabia’s push to become a global cultural hub is accelerating.
“We have today over 50,000 investors in the Kingdom of Saudi Arabia — Saudi and international — that are categorized as investors in culture and creative categories,” he said.
During the conference’s first panel, which was moderated by Arab News’ Editor-in-Chief Faisal J. Abbas, the minister detailed the rapid growth of the cultural economy.
