The Saudi Conferences and Exhibitions General Authority (SCEGA) has announced that $40m of government funding will be allocated to new events in 2025.
Speaking at the ICCA Congress in Abu Dhabi, H.E. Fahd Al-Rasheed (pictured), chairman of SCEGA, told delegates that the investment was intended to co-create new home-grown events and attract global IP to the Kingdom. Al-Rasheed noted that the Kingdom’s MICE sector has grown by 44% in the past five years, growth he attributed to new industries, and particularly the giga-projects, focusing on MICE to raise awareness and attract international partners.
Saudi Arabia is already home to some of the region’s most significant events, including the Future Investment Initiative (FII), the World Defense Show and Leap. The Kingdom is also looking forward to hosting the 2030 World Expo.
“This region is poised to be at the centre of the world MICE industry for the next two decades,” said Al-Rasheed.
“In the coming years we will see thousands of the world’s best exhibitions, conferences and shows take place across the region.”
Al-Rasheed said that the transformation happening across the Kingdom as a result of Vision 2030, the blueprint for the socio-economic future of Saudi Arabia, was a driving force behind the growth of the MICE sector in the country. And the SCEGA chairman also revealed plans for venue space in Riyadh to reach one million square metres by 2030 and to increase the number of hotel rooms in the nation’s capital to 130,000. He also highlighted the expansion of Riyadh’s airport capacity to 120,000 passengers, and the launch of Riyadh Air, a new national carrier that will connect the city to 100 global destinations.
Al-Rasheed told ICCA delegates that SCEGA is providing a comprehensive incentive programme, including logistical and promotional support, to help organisers expand their presence in the region’s largest economy.
“We want to partner with the leaders of the MICE sector to create the next leading edge of events,” said Al-Rasheed.
“The potential for the sector is huge,” he added. “We invite you to be part of it."
