Saudi Arabia Emerges Among Fastest Growing G20 Events Markets

27/11/2025 04:19 AST

Saudi Arabia is gearing up for what officials describe as a golden decade for business events, driven by unprecedented expansion in its exhibitions and conferences sector and a record jump in capacity, which rose 32 percent in a single year to 923 accredited venues.

This surge aligns with a broader vision led by the General Authority for Exhibitions and Conferences to redefine the role of events, positioning them not only as spaces for showcasing and meeting, but as platforms for problem solving, policy shaping, and cross sector alliances.

The authority's chairman, Fahd al-Rasheed, said the kingdom is preparing for "a golden decade of major events," headlined by Expo 2030 and the 2034 World Cup.

The momentum comes as Riyadh hosts the second International MICE Summit (IMS25), which brings together more than 2000 global industry leaders at a time when the kingdom is working to cement its position as the fastest growing business events market in the Group of Twenty.

Sector growth and companies
Al-Rasheed told Asharq Al-Awsat that the sector today records "one of the fastest growth rates among G20 countries," with annual expansion close to 10 percent over the past five years and a direct economic contribution of about 10 billion riyals, equal to 2.7 billion dollars.

He said the global events industry is now valued at more than one trillion dollars and is expected to double in the coming decade, becoming one of the world's strongest economic growth engines.

He added that the number of companies operating in Saudi Arabia has surged from just 400 in 2018 to 17000 today, a 330 percent increase that he described as "massive," reflecting the scale of transformation across the industry.

Al-Rasheed said the congress will witness the announcement of five new global companies entering the Saudi market to manage exhibitions and conferences, raising the number of major international firms with local headquarters to 13 out of the world's top 20, or 70 percent of leading global players in the sector.

Capacity expansion
The growth is matched by significant expansion in event infrastructure. Capacity has risen 32 percent in one year through a network of 923 accredited sites across the kingdom. Exhibition space has jumped 320 percent since 2018 to reach 300520 square meters.

About 90 percent of total capacity is concentrated in three main regions, Riyadh, Makkah, and the Eastern Province, through major facilities that include the Riyadh Exhibition and Convention Center in Mulham at 78000 square meters, Jeddah Superdome at 34000 square meters, and Dhahran Expo at 25600 square meters.

Other regions have also seen notable expansion with new centers, including the King Salman International Conference Center in Medina, the Maraya Hall in AlUla, the King Khalid University Center in Asir, and the Prince Mishaal Conference and Events Center in Najran.

Redefining the role of events
The sector's momentum extends beyond quantitative growth to a redefinition of the economic and knowledge roles of events.

According to the authority's vision, events are no longer only venues for display and gathering, but platforms for policy making, problem solving, and cross sector partnerships, Al Rasheed said.

He added that the kingdom is positioning itself as "a global hub where decision makers meet industry leaders," stressing that the goal is "not only to host more events, but to contribute to solutions and launch initiatives that benefit global sectors."

The international congress
The acceleration coincides with Riyadh hosting the second edition of the International Congress for the Exhibition Industry on November 26 and 27, 2025, with more than 2000 global industry leaders taking part.

Al-Rasheed said the congress offers a golden opportunity to link local policymakers with global leaders and strengthen cooperation between the public and private sectors, in line with Vision 2030 targets for tourism and the events industry, which aims to welcome 150 million visitors by 2030. Visitor numbers have already exceeded 60.9 million in the first half of 2025, with total tourism spending reaching 161.4 billion riyals, or 43 billion dollars.

This expansion signals Saudi Arabia's shift into a global hub for events and business gatherings, where events have become engines of economic growth, accelerators of innovation, and tools for building strategic alliances.

With continued hosting of major events and rising investment in infrastructure and workforce training, the kingdom is reinforcing its position as a key destination for investors and global companies, opening a new chapter of opportunities for shaping the future of the global events industry.

Asharq Al Awsat