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Expo 2030 Riyadh will play a key role in diversifying Saudi economy from energy sector to non-oil sectors such as tourism, hospitality, real estate, construction, infrastructure development and technology by attracting millions of visitors during the six-month long exhibition period. The mega event, which will coincide with the culmination of the kingdom’s Vision 2030, is schedule to take place from October 2030 to March 2031 in North Riyadh. The site will span over 600 hectares, with 3.
38 million sqm dedicated to experiential space and 2.62 million sqm for supporting amenities and facilities. The Expo 2030 will be held under the theme ‘The era of change: Together for a foresighted tomorrow’ and it has three sub-themes through which it aims to guide the global community towards a better future with the help of science and technology.
The sub-themes include: A Different Tomorrow: The advancement in science and technology should transform the world, create resilience, and serve humanity, however, responsibly, and ethically. Climate Action: Mobilise the international community to encourage the development of sustainable solutions to protect the natural ecosystem. Prosperity for All: An inclusive prosperous world with contributions from every nation to tackle inequalities and imbalances.
The Saudi Government, which has earmarked $7.8 billion to construct the most expensive venue in World Expos history, anticipated to attract 246 participants and 40 million visitors during the exhibition. Analysts and experts said the event will have the potential to promote several sectors in the pre-event phase as well as during the event and in the legacy phase.
In a comprehensive study, Al Rajhi Capital Research said total economic impact of Riyadh Expo is projected to be a $94.5 billion (SR335 billion), representing a 19 per cent addition to the estimated non-oil gross domestic product (GDP) for 2023 with an annualised impact of 0.75 per cent over the next 25 years.
“The impact of the Riyadh Expo is anticipated to extend beyond the event. Unlike Dubai, Riyad — which is not a tourist hub currently, needs to make significant investment for the six-month long exhibition, including building 100,000 hotel rooms, the economic impact over the years will be substantial, according to the report. In another report, GIB Capital said Expo 2030 is likely to have a significant positive impact on Saudi economy as the government will continue to drive higher spending and investment in infrastructure, local industry and services.
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