Expo 2030 Riyadh Unveils Major Economic Boost

The Public Investment Fund (PIF) of Saudi Arabia has announced the establishment of a new company, the Expo 2030 Riyadh Company (ERC), tasked with the creation and management of the facilities for Expo 2030 Riyadh. The initiative is a significant step in Saudi Arabia's economic transformation agenda under its Vision 2030 strategy, with the event expected to generate nearly $70 billion for the nation's GDP. Additionally, Expo 2030 Riyadh will cover 6 million square meters, making it one of the largest Expo sites globally and is anticipated to host over 40 million visitors. Following the Expo, the ERC plans to convert the area into a multicultural hub with retail, food, beverage options, international residential communities, and other amenities aimed at setting new standards in sustainable tourism. The development aligns with PIF's role in driving Saudi Arabia's economic diversification, with the Expo projected to create 171,000 direct and indirect jobs during its construction, and to contribute significantly to the country's GDP once operational. The PIF's strategic objectives include becoming a major driver of economic diversification and supporting the creation of key sectors within Saudi Arabia and abroad by fostering partnerships with local and global private sectors. Expo 2030 is set to further boost the city of Riyadh's attractiveness as a business hub while enhancing its infrastructure and connectivity.