Riyadh, January 10, 2024, Minister of Economy and Planning Faisal bin Fadhil Alibrahim has stated that the successful bid to host Expo 2030 in Riyadh demonstrates the international community's confidence in Saudi Arabia's ability to host major global events. In his remarks to the Saudi Press Agency (SPA), he emphasized that the Kingdom's hosting of this international event underscores its commitment to achieving sustainable economic and social development.
Expo 2030 presents a historic opportunity for the Kingdom to implement sustainable and innovative practices in infrastructure development, energy utilization, and urban planning, Alibrahim noted. The event will further strengthen the Kingdom's position as a leading global destination for business, tourism, and innovation while fostering international dialogue and purposeful cultural exchange to cultivate a more prosperous world.
The minister highlighted that Expo 2030 is expected to attract a larger number of visitors to the Kingdom, consequently driving growth in the hospitality and retail sectors and boosting consumer spending. The event will also serve as a platform for Saudi investors to establish business partnerships and engage with numerous international companies across various sectors.
Moreover, hosting the expo will contribute to improving the quality of life in the Kingdom as well as the quality of products and services in fields such as healthcare, education, and transportation, the minister said. The Kingdom has already begun reaping these positive impacts since the announcement of its successful bid to host the expo, and the benefits will continue even after the conclusion of the event, the minister stated.
The event is expected to yield numerous economic and social benefits, including gross domestic product (GDP) growth, increased employment opportunities, and enhanced investment flows, the minister said. The event will also contribute to the development of various sectors, such as tourism, construction, and services.
The Kingdom's commitment to hosting Expo 2030 reflects its vision for sustainable development and its determination to achieve its goals. The event will undoubtedly have a significant impact on the Kingdom's economy and society, and it will pave the way for further growth and development in the years to come.