Page 16 - LOGIC Consulting PR Report JUNE - JULY 2024

LOGIC Consulting Study Highlights Significance

of Entertainment and Cultural Sectors in

Diversifying Saudi’s Economy

12/07/2024

• Projections indicate that the entertainment market size will reach SAR 14.4 billion by 2028
• KSA aims to increase the economic contribution of the cultural sector to reach 3% of the GDP
by 2030

11 July 2024:

LOGIC Consulting, a leading EMEA consulting firm, conducted a study titled ‘The Evolution of
Saudi Arabia's Culture and Entertainment Sectors: Transformational Progress Towards Vision
2030,’ underscoring the significance of cultural and entertainment sectors in diversifying the
economy and driving the non-oil economy in line with Saudi Vision 2030.

Mostafa El Ghorab, Senior Partner and Managing Partner KSA LOGIC Consulting, highlighted
the four main focus areas of the study: 'A Comprehensive Look at the Evolution of Saudi
Arabia's Cultural and Entertainment Sectors,' 'The Impact of Cultural and Entertainment Sector
Growth on the Tourism Industry,' 'Institutional Frameworks for Both Sectors,' and 'Balancing
Public and Private Funding for Financial Sustainability in the Cultural Sector'. These key areas
underline Saudi Arabia's progress in its cultural and entertainment sectors, positioning them as
pivotal to achieving the Saudi Vision 2030. The study underscores the role of these sectors in
diversifying the economy away from oil dependence and significantly contributing to the national
GDP, while also playing crucial roles in sustainable economic development.

https://www.arabbnews.com/english/Latest-News.asp?id=17535