The first edition of the Sports Investment Forum (SIF), sponsored by the Ministries of Sport and Investment, kicked off recently in Riyadh, bringing together over 140 speakers, more than 3,000 attendees, and 50 sessions and workshops over the three-day event.
The event serves as the region’s premier gathering for the sports and investment industries, bringing together leading athletes, investors, government officials, club presidents and international experts to discuss key challenges and opportunities reshaping the sports economy locally and internationally.
Saudi Arabia is hosting the Sports Investment Forum at a time when its sports sector is valued at $8 billion. The sector is expected to grow to $22.4 billion by 2030. The Ministry of Investment also revealed that since 2020, the private sector has invested around SAR10 billion in the sector.
AI’s role in driving the sports sector’s growth
The audience watched a presentation on the Sports Investment Forum, which reviewed its objectives and highlighted the most prominent national sports achievements. Deputy Minister of Sport Badr Al-Qadi delivered a speech on behalf of Minister of Sport Prince Abdulaziz bin Turki bin Faisal, expressing appreciation for the leadership’s support of the sports sector, which has contributed to the development of the Saudi sports system and its many accomplishments in recent years.
Several initiatives related to sports investment were launched, accompanied by the signing of various agreements in real estate development, technology, and the sports sector.
On day one of the Sports Investment Forum, Director of the National Information Center at the Saudi Data and Artificial Intelligence Authority (SDAIA) Esam Alwagait affirmed that sports have transformed from traditional competition into a strategic industry with economic, social, and cultural significance—an evolution deeply embedded in the goals of Saudi Vision 2030.
Dr. Alwagait emphasized the pivotal role artificial intelligence (AI) can play in advancing the sports sector. He underscored the need to leverage AI’s capabilities, particularly as the Kingdom continues to host high-profile international events and prepares for major tournaments, including the 2029 Asian Winter Games and the 2034 FIFA World Cup.
Alwagait noted that AI holds vast potential to maximize returns on sports investments and ensure long-term sustainability. He highlighted the value of data-driven insights in guiding decisions on infrastructure development, sponsorship strategies, and community sports programs—key components in supporting the Kingdom’s economic diversification efforts under Vision 2030.
Saudi sports events attract 24 million tourists annually
In a session titled “From Vision to Implementation: Government Integration to Achieve Investment Growth Goals in Sports,” Vice Minister of Sport Badr Al-Kadi emphasized that achieving the objectives of the National Sports Strategy requires cross-sectoral integration. He described the sports sector as a strategic partner in driving national development and advancing Saudi sports.
For her part, Vice Minister of Tourism Princess Haifa bint Mohammed highlighted that the forum is the result of private sector initiatives and aligns closely with the objectives of Vision 2030. She underscored the role of sports in advancing the tourism sector and noted that such events help generate job opportunities and support economic growth.
She also pointed out that the Kingdom currently attracts approximately 24 million tourists annually to attend sports events and activities, generating around SAR22 billion in spending.
Meanwhile, Assistant Minister of Investment Ibrahim Al-Mubarak stated that the Kingdom has achieved significant milestones across numerous sectors since the launch of Vision 2030, including the sports sector, which demonstrates its promising investment potential. He added that Vision 2030 is supported by comprehensive national programs and strategies involving all stakeholders.
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Saudi Arabia’s sports projects attract key investors
The Sports Investment Forum also held enriching discussions on all aspects of infrastructure development for sports projects. Speakers spotlighted the necessary standards for development processes, the objectives of such projects and the importance of meeting the needs of athletes while attracting investors as strategic partners in national development.
Investors expressed eagerness to engage in these projects, citing the facilitative measures provided by the Saudi government to support the private sector’s contribution to development across various fields, particularly in sports. They underlined the role of this involvement in significantly enhancing opportunities to diversify the local economy while serving multiple sectors as part of efforts to realize the objectives of Saudi Vision 2030.
