Events infrastructure in Saudi Arabia: A 32% increase fuels a new global economic engine

  

Why Business Events Are Very Important in Saudi Arabia

Not just meetings; Business Events are a strategic tool for national development, aligned with the Kingdom's Vision 2030. Their importance is multi-faceted :

1. Economic Diversification: Saudi Arabia is rapidly moving away from its oil-dependent economy, despite its vast oil reserves. Business events are a cornerstone of this strategy, supporting the tourism, hospitality, and entertainment sectors—key pillars of Vision 2030. These sectors are crucial for attracting foreign visitors, generating investment, and creating jobs.

2. National Branding and Global Perception: Events serve as a global platform, playing a vital role in reshaping Saudi Arabia’s identity. They showcase the Kingdom’s rapid modernization, its openness to business, its rich cultural heritage, and its ambitious projects (such as the Red Sea Project, NEOM, and Qiddiya). It is important to shift the international narrative and focus on future visitors and investors.

3. Knowledge Transfer and Human Capital Development: This is highly beneficial for upskilling the local workforce. By hosting world-class conferences and exhibitions, Saudi professionals gain access to cutting-edge ideas, international best practices, and networking opportunities within the Kingdom, rather than traveling abroad.

 4. Fostering Innovation and Entrepreneurship: Events, particularly in the technology and startup sectors, create ecosystems that facilitate the exchange of ideas, the formation of partnerships, and the stimulation of innovation. They provide an ideal platform for connecting local entrepreneurs with global stakeholders, investors, and peers.

 5. Catalyst for Infrastructure Development: The demand for large-scale events accelerates the development of world-class infrastructure, including convention centers, airports, public transportation, hotels, and digital connectivity, benefiting the economy as a whole.

 6. Sectoral Growth: Events target and promote specific strategic sectors such as finance (Future Investment Initiative), mining (Future Metals Forum), technology (LEAP), and tourism, creating concentrated hubs of industrial activity.

Types of Business Events in Saudi Arabia

 The Kingdom hosts a diverse and growing range of events:

 Mega Conferences and Forums: High-level, invitation-only gatherings of global leaders.

 Future Investment Initiative (FII): Often called "Davos in the Desert," it focuses on global investment and economic trends.

 LEAP: A major technology and innovation conference that has quickly become one of the world's largest technology events.

 Future Minerals Forum (FMF): Shifting its focus to the future of mining and mineral resources.

 World Defense Exhibition: A leading international defense and security exhibition.

  Major Trade Shows: Business-to-business events where companies showcase their products and services.

 Saudi Food Exhibition, Saudi Hotel Exhibition, Cityscape Global (Real Estate), and many other specialized trade shows.

  Meetings and Incentives Tourism (MICE): Increasing numbers of global companies are choosing Saudi Arabia, a regional powerhouse, for their regional meetings, product launches, and employee incentive trips, due to its modernity and unique offerings.

 Conferences and associations: Professional and academic associations host their annual meetings in the Kingdom, bringing together experts from specific fields, such as scientists, medicine, engineering, finance, Sports Coaches and many others.

                                         

How will the business community benefit from these events?

 The local and international business community reaps significant benefits:

 • Networking and partnership building: Events offer an unparalleled opportunity to build strong relationships, meet potential clients, and form joint ventures with local and international companies.

• Lead generation and increased sales opportunities: Exhibiting at trade shows provides direct access to a focused pool of potential buyers and decision-makers.

 • Market intelligence using cutting-edge technology: Conference participation allows companies to understand market trends, competitor strategies, and customer needs directly from the source.

 • Enhanced brand presence and positioning: Participating in or sponsoring a major event significantly enhances a company's profile and solidifies its position as a key player in the Saudi and Gulf markets.

 • Talent attraction and retention: Companies can seek out top talent and offer their employees opportunities to participate in learning and growth programs. • Policy influence: At high-level forums like FII, business leaders and CEOs can engage directly with government officials and policymakers to shape the future regulatory environment.

Main Players in the Events World and the Gulf (Especially Saudi Arabia)

The ecosystem involves a mix of government entities, regulatory bodies, and professional event organizers.

Global Main Players:

• Organizers: Reed Exhibitions, Informa Markets, Messe Frankfurt, Clarion Events, etc.
• Associations: International Congress and Convention Association (ICCA), Union of International Associations (UIA), Professional Convention Management Association (PCMA).
• Venues: Locations like Messe Berlin, Singapore EXPO, Las Vegas Convention Center.

Gulf Countries & Saudi Arabia - Main Players:

1. Government Vision and Regulatory Bodies:
• Saudi Vision 2030: The overarching driver and funder of the sector's growth.
• Ministry of Tourism: The key government body responsible for developing and licensing the tourism and events sector.
• Saudi Exhibition and Convention Bureau (SECB): A subsidiary of the Ministry of Tourism, tasked with bidding for and attracting international events to the Kingdom.
2. Major Event Destinations and Developers:
• Riyadh Front: A massive development set to include one of the largest convention centers in the world.
• King Abdullah Financial District (KAFD): A modern financial hub with state-of-the-art conference facilities in Riyadh.
• Jeddah Superdome: The largest geodesic dome in the world, a premier venue on the west coast.
• Qiddiya, NEOM, Red Sea Global: These giga-projects are not just destinations but will be future hubs for mega-events themselves.
3. Key Local Organizers and Partners:
• Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP): The driving force behind the LEAP conference.
• FII Institute: The organizer of the Future Investment Initiative.
• Informa Saudi Arabia: A joint venture between the government's PIF and Informa Plc, making it a dominant force in organizing trade shows in the Kingdom.
• HMC (Hamdan Al-Mazrouei Company): A leading local events and experiences company.
• Arab News: A media partner and often an organizer of high-profile events and forums.

In summary, business events in Saudi Arabia are a key driver of its Vision 2030. At the highest levels of government, these events are strategically planned, heavily invested in, supported, and meticulously designed. For the global and local business community, these events represent an unmissable opportunity to engage with and promote one of the world's most dynamic and advanced economies.