Saudi Arabia has solidified its position as a premier global hub for major events by successfully securing the hosting rights for Expo 2030.
As the sole contender for hosting the 2034 FIFA World Cup, Saudi is expected to win the bid. Additionally, the 2029 Asian Winter Games are set to take place in NEOM City, a newly established $500 billion real estate development project located in the northwestern region of the Kingdom.
During its 173rd General Assembly meeting, the Paris-based Bureau International des Expositions (BIE) announced the results of the vote, marking a significant diplomatic triumph for the Gulf country in securing the hosting rights for a prominent global event. This achievement comes after the United Arab Emirates (UAE) successfully hosted Expo Dubai, which was postponed due to the pandemic, and Qatar’s successful hosting of the previous year’s World Cup.
Read more: Saudi to welcome the world at Expo 2030 with $7.8 bn investment
Riyadh, the capital of Saudi Arabia, vied against Busan in South Korea and Rome in Italy as it contended for the opportunity to host the five-year global exhibition, a prestigious event that draws millions of visitors and billions of dollars in investments.
In the event that the Saudi organization’s proposal, under the slogan “The Age of Change: Together Toward a Farsighted Tomorrow,” is accepted, the government has announced its intention to allocate $7.8 billion for the organization and execution of the exhibition.
In the first round of voting, Riyadh secured an impressive 119 votes out of 182 members of the BIE, surpassing its competitors. Busan received 29 votes, while Roma received 17. To secure victory in the initial round, Saudi needed to obtain a two-thirds majority of the votes.
Significant milestone
The successful bid to host the event marks a significant milestone for Saudi Arabia’s ambitious Vision 2030 program, which seeks to diversify the economy and reduce its reliance on oil. Crown Prince Mohammed bin Salman, who oversees the program, highlighted that this victory signifies the culmination of Vision 2030’s objectives and plans. The Crown Prince stated that the exhibition presents a remarkable opportunity to showcase the valuable insights gained from the country’s unprecedented transformative journey to the world.
The Saudi foreign minister, Prince Faisal bin Farhan Al Saud, declared that Saudi Arabia is committed to delivering an exceptional rendition of Expo 2030.
During its tenure as the host of Expo 2030, Saudi Arabia will prioritize the achievement of sustainable development goals, Prince Faisal said.
“We have diligently undertaken numerous initiatives and are fully committed to fostering international cooperation. We extend a warm invitation to all to join us in Riyadh,” Prince Faisal added.
“The Crown Prince took personally led Riyadh’s hosting of the exhibition, and the Kingdom’s successful bid underscores the global confidence placed in Saudi Arabia.”
Landslide victory
Expressing his congratulations, BIE Secretary General Dimitri Kerkentzes proclaimed that Riyadh had decisively emerged as the winner of Expo 2030, acknowledging the city’s remarkable triumph as a landslide victory.
Addressing a press conference following the vote, Kerkentzes emphasized that this exhibition would serve as a catalyst for the transformation of the Kingdom.
The AFP quoted sociologist Patrick Le Galès, a research director at The French National Centre for Scientific Research (CNRS) and at the Sciences Po University, that these megaevents, seen as a “a machine to boost growth and strengthen influence,” contribute to forge a global“political image.”
Le Galès asserts that Saudi hosting the exhibition will be the epitome of sustainability and marks the first instance where an exhibition commits to achieving carbon neutrality.
Economic advantages
Undoubtedly, Riyadh’s triumph in hosting Expo 2030 brings forth numerous positive effects, encompassing a wide range of benefits such as:
- Strengthening Saudi’s global position as a prominent hub for innovation, cooperation and sustainable development.
- Attracting foreign investment to the Kingdom, particularly in key sectors such as infrastructure and cutting-edge technologies.
- Creating both direct and indirect employment opportunities for Saudi citizens.
- Promoting tourism by attracting visitors from various countries around the world.
- Presenting numerous opportunities for Saudi companies to participate in the exhibition and showcase their products and services to a global audience.
Sectors that stand to benefit
The event encompasses several sectors that stand to gain significant benefits, including:
- Tourism: Expo 2030’s international appeal will attract millions of visitors from around the world, thereby promoting tourism in the host country.
- Infrastructure: Hosting an international expo necessitates substantial infrastructure development, creating substantial investment opportunities in this sector.
- Industry: The exhibition serves as a platform for both local and international companies to showcase their products and services to a global audience, bolstering the industry sector.
- Service Sector: Expo 2030 also presents numerous opportunities for the service sector, including transportation, communications, hospitality, and healthcare.
These sectors are poised to experience notable growth and development as a result of the event, contributing to the overall economic advancement of the host country.
Furthermore, Riyadh Expo 2030 is projected to attract more than 25 million visitors during its six-month duration, running from October 1, 2030, to March 31, 2031.
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