Inaugural Cultural Investment Conference Held in Riyadh

The inaugural Cultural Investment Conference opened in Riyadh, with multisectoral representatives from arts practitioners, government officials, investors to diplomats gathering for high-level discussions on culture as a strategic investment.

The two-day event, held under the patronage of Crown Prince Mohammed bin Salman, “explores bold financing models, strategic partnerships, and the evolving role of cultural capital in driving economic growth, national identity, and global influence,” according to the conference website.

Among the key themes to be discussed include new investment opportunities, emerging markets and untapped sectors in the cultural economy, the RoI of culture, financing the future of culture, artificial intelligence and culture, boosting investor confidence and creative entrepreneurship.

Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, during the opening high-level session, said that the Kingdom today hosts over 50,000 investors, both local and international.

Around 1,700 international investors are engaged in the Kingdom’s culture sector, including creative industries, arts, events, and entertainment, he said.

Foreign investments in culture have surged from virtually nothing six or seven years ago to over US$500 million as of last year, growing at double-digit rates, the investment minister added.

Faisal Ali F. Ibrahim, the Saudi Minister of Economy and Planning, meanwhile said that around 235,000 people are currently employed in the Kingdom’s cultural sector.

He added that the target is to triple the culture sector’s contribution to GDP by 2030.