Saudi poised to become new leader in theme park industry

Published August 3rd, 2016 - 07:00 GMT
Theme parks could be the next big thing for Saudi Arabia. (Shutterstock)
Theme parks could be the next big thing for Saudi Arabia. (Shutterstock)

Saudi Arabia will play a pivotal role in the global theme park and amusement industry, according to Abdul Rahman Falaknaz, chairman of International Expo Consults (IEC), the organizers of the DEAL 2017 show.

Highly innovative and creative theme park concepts in Saudi Arabia will be one of the key factors that will attract and drive millions of tourists and local residents to these entertainment destinations, IEC said in a press statement on Monday.

The Gulf Cooperation Council (GCC) is set to witness a boom in tourism as new projects and developments are being planned to usher in more tourists than ever before.

One of the examples includes Saudi Arabia’s much talked about project — KidzMondo Theme Park. The first branch is anticipated to begin operations in Riyadh in the first quarter of 2017 before spreading out to other major cities of the Kingdom.

Launching the KidzMondo cities in Saudi Arabia entails a huge investment of $133m.

“A decade ago the entertainment landscape was totally different. However, there has been a paradigm shift and we have witnessed a giant leap within the theme park and amusement industry marketplace,” said Falaknaz.

Theme parks in Saudi Arabia have the potential to see plenty of tourists in the coming few years. Tourism, travel and hospitality are expected to touch peak growth rate for the next decade and half, spiraling by a compound annual growth rate of 11 percent between 2014 and 2030, to be positioned after advanced manufacturing, as per reports.

“Saudi Arabia is well prepared to be crowned as a fun destination in the MENA region with commercial establishments and state-of-the-art infrastructure,” added Falaknaz.

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