The exhibitions and conferences industry in Saudi Arabia is witnessing remarkable growth, reflecting the dedication and significant efforts the Kingdom is making to enhance this vital sector. Saudi Arabia hosts numerous international exhibitions and conferences that attract visitors and participants from around the world. There is increasing global interest in the exhibitions and conferences industry due to its substantial economic impact, contributing to development and income diversification.

Economic Transformations and Income Diversification

The latest statistics reveal continuous growth in the exhibitions and conferences industry in Saudi Arabia. Market size is expected to reach 10 billion Saudi Riyals in 2023, marking a 10% increase from 2022. The Kingdom hosted 1,200 exhibitions and conferences, attracting ten million visitors in 2022 alone. This industry generated a direct economic impact of 8 billion Saudi Riyals in exhibition and conference sales in the same year.

The exhibitions and conferences industry in Saudi Arabia spans various sectors including business, industry, tourism, hospitality, health, education, entertainment, and sports. This industry significantly contributes to the Saudi economy by providing employment opportunities, investments, and government revenues.

Government Investments and Strategic Partnerships

According to the 2022 Saudi Exhibition and Conference Market Report by Euromonitor International, the most attractive sectors for exhibitions and conferences in the Kingdom are business and industry, accounting for 30% of events, followed by tourism and hospitality at 20%, health and education at 15%, and entertainment and sports at 10%. Additionally, 200 international exhibitions and conferences were held in Saudi Arabia, attracting half a million international visitors and generating over 2 billion Saudi Riyals in sales in 2022.

These achievements align with Saudi Arabia’s new economic directions focused on income diversification and reducing dependence on oil under Vision 2030. The Saudi government has granted significant importance to the exhibitions and conferences industry through the National Transformation Program 2020. This sector-focused approach includes continuous improvement in industry regulations, providing high-quality facilities and advanced infrastructure, enhancing the ability to attract large investments, and building strategic partnerships with relevant entities.

Impact of the COVID-19 Pandemic and Rapid Recovery

Despite the significant shock to the exhibitions and conferences sector in Saudi Arabia due to the forced cessation of social gatherings amid the COVID-19 pandemic, the sector quickly recovered and resumed activities. According to the General Authority for Exhibitions and Conferences, 4,000 licenses were issued for exhibitions and conferences across various regions of the Kingdom in the first half of 2022, marking a 367% increase compared to the same period in 2021. Additionally, over 2,500 licenses were granted to exhibition organizers in Saudi Arabia.

Targeted Sectors for Enhancing the Exhibitions and Conferences Industry

Saudi Arabia is focusing on supporting and developing several key economic and investment sectors to enhance the exhibitions and conferences industry. These sectors include health, education, commerce, culture, sports, entertainment, agriculture, finance, information technology, energy, petrochemicals, and religious tourism. Government support and substantial investments in this industry are expected to achieve significant growth, increasing its contribution to non-oil GDP to approximately 30 billion Saudi Riyals by 2030.