Saudi Arabia launches tourism and entertainment fund

Saudi Arabia has launched a multi-billion dollar investment fund designed to support its entrainment and tourism industry.

The Events Investment Fund (EIF) is expected to focus on attracting foreign investment into the sector with the aim of adding US$7.45 billion to the kingdom’s GDP by 2045.

According to the Saudi Press Agency, the fund will finance and oversee the development of 35 entertainment venues by 2030.

These venues will include indoor arenas, art galleries, conference centres and sporting venues.

The first asset is expected to be delivered by the end of the year.

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