Saudi Arabia's Economic Growth Accelerates Amid Global Partnerships

Saudi Arabia is positioning itself as a global hub for sports and entertainment by preparing to host the 2034 FIFA World Cup, which is expected to significantly boost its economy. The kingdom plans to invest heavily in infrastructure, including world-class stadiums, transportation networks, and hospitality facilities, with an anticipated need for an additional 185,000 hotel rooms. This aligns with Saudi Vision 2030 objectives aimed at diversifying the economy and modernizing infrastructure beyond oil dependency. Additionally, during the World Economic Forum, Saudi officials highlighted the kingdom's economic progress, emphasizing its commitment to creating a favorable environment for growth while maintaining fiscal discipline. The IMF praised Saudi Arabia's efforts to diversify its economy, with non-oil activities now comprising over half of its GDP. These initiatives reflect the kingdom's ambition to enhance its global influence and attract tourism, building on lessons learned from Qatar's recent hosting of the World Cup.