RIYADH: Saudi Arabia’s successful bid to host Expo 2030 in Riyadh demonstrates the international community’s confidence in his country’s ability to host major global events, said the Kingdom’s minister of economy and planning, Faisal Alibrahim.
He told the Saudi Press Agency that the nation’s desire to host the international event underscores its commitment to achieving sustainable economic and social development. Expo 2030 offers a historic opportunity for the country to implement sustainable and innovative practices in infrastructure development, energy utilization, and urban planning, he added.
The event will further strengthen the Kingdom’s position as a leading global destination for business, tourism and innovation, while fostering international dialogue and cultural exchange to help cultivate a more prosperous world, Alibrahim said.
He believes it will yield numerous economic and social benefits, including gross domestic product growth, increased employment opportunities, and enhanced investment flows, and help to develop sectors such as tourism, construction and services.
The minister said Expo 2030 is expected to attract a large number of visitors to the Kingdom, 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 international companies across various sectors, he added.
Hosting the expo will also contribute to efforts to improve the quality of life in the Kingdom, Alibrahim said, as well as the quality of products and services in fields such as healthcare, education and transportation.
The Kingdom has already started to feel the positive effects since the announcement in November of its successful expo bid, and the benefits will continue even after the event concludes, he added. These are evident in the infrastructure development projects designed to prepare for the expo and the other significant events and activities that will take place in the Kingdom in the coming years, according to Alibrahim.
Such projects will have tangible long-term benefits for the Kingdom’s development for decades to come, he said, by enhancing economic activities in various sectors and supporting the participation of the private sector. Such initiatives will strengthen the private sector’s capacity for growth and enable it to take a leading role in the Kingdom’s unprecedented economic transformation.
