Saudi Arabia plans to invest USD 64 bn in developing its entertainment sector over the next decade, Ahmed Bin Aqeel Al-Khatib, chairman of the Saudi General Entertainment Authority (GEA) said during the launch of the 2018 entertainment calendar at the Four Seasons Hotel in Riyadh.

Al-Khatib said 5,000 events were planned in 2018 alone, including those by Maroon 5 and Cirque du Soleil, adding that GEA has already started the establishment of Saudi’s first opera house in Riyadh

A large entertainment city near Riyadh, almost equivalent to the size of Las Vegas, is already planned to boost the country’s tourism sector.

This decision comes two months after the Saudi government decided to lift the ban on commercial cinemas.

“In the past, investors would go outside the kingdom to produce their work, and then showcase it back in Saudi Arabia. Today, change will happen and everything related to entertainment will be done here. God willing, you will see a real change by 2020,” Al- Khatib said.

The investment is part of Vision 2030, the country’s social and economic reform program unveiled two years ago by the 32-year-old Crown Prince Mohammed Bin Salman, who aims to diversify the economy and reduce the country’s reliance on oil, by increasing spending on culture and entertainment.