In 2016, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister of Saudi Arabia, outlined his ambitious Vision 2030. In a fraught geopolitical area that is a strategic gateway to Africa and Eurasia, cohesive and sustainable economic development needed to be led by smart political will. With Vision 2030, Saudi Arabia underscored its position to become the voice of a united Arab Islamic world, attract increased global investment, and lead a cultural renaissance in the region. In FIFA, it has found its perfect collaborator.
Leveraging sports as a cultural interface, Saudi Arabia is well on its way to establishing its global footprint while attracting billions to invest in its future. Between dribbles and goals in the five host cities and fifteen new stadiums, FIFA 2034 will bring together 48 teams and become an economic catalyst for the Saudi population, with 60% under the age of thirty. Sports, especially those with a large captive global audience, are often the best way to empower connections and connectivity.
Saudi Arabia has dared to dream big. Now, it has to get the goal right.
When Saudi Arabia became the only contender to bid and host FIFA 2034, it wasn’t simply a matter of math and money. Ideally, Asia would have had to wait until 2042 to host the World Cup after Qatar in 2022, but internal changes brought the opportunity again to Asia and Oceania countries. Smaller countries lacked the financial and strategic resources that helped Saudi Arabia win the bid.
While the nation is renowned for its oil exports, its leadership recognizes the need to diversify beyond natural resources and build a more sustainable economic future. The decision to go the sports way and invest in the lucrative sports industry and intellectual property (IP) will not only bring in the big bucks and the masses in tow but will enhance the country’s influence on the world stage.
Saudi’s sovereign wealth fund, with estimated assets of USD 700 billion, is carefully hedging its bets in sports and the offshoot industries, such as tourism and construction, to create future economic assets. Vision 2030, built on the interlinked premises of a vibrant society, a thriving economy, and an ambitious nation, has earmarked sports as a major investment area. Sporting leagues bring in broadcasting rights, global advertisers, fan influx, and social media footprint and generate grassroots-level interest and engagement in the domestic economy.
Saudi Arabia becoming the FIFA host after Qatar will eventually help build the GCC as a mega sporting hub for the world.
Are sports that simple an economic alternative? There is no one-size-fits-all answer. Investment in sports acts as an economic catalyst that spawns off industries and income streams for local businesses and international collaborations. As interest and engagement grow, local talent attracts opportunities and vice versa. International investors eventually follow suit, and the money trail starts to strengthen. Over the past few years, Saudi Arabia has increased its investment in sports in exchange for political goodwill and economic support from the West.
In 2018, World Wrestling Entertainment (WWE) signed a ten-year estimated USD 100 million annual contract to host its events in Saudi Arabia. The American high-octane wrestling with larger-than-life Hollywood entertainment effects draws in crowds to the tune of millions. Having them on Saudi soil was a clear message that the desert kingdom was indeed attuned to the modern ideas and aspirations of the youth. Other notable investments of Saudi Arabia’s sovereign wealth fund include golf tournaments, English soccer, Formula 1, and horse racing.
The investment extends to talent management and promoting gender equity on home grounds too. For a country with low gender representation, sports are a great way to create more opportunities for women. With over 500 women’s sports centres, there is a slow and steady uptick in socio-demographic change. Women’s football has been garnering interest, with Saudi Arabia’s women’s team having a FIFA world ranking for the first time. This is just the beginning of the region’s expanding cultural and social umbrella.
Perception building and image management aren’t only for athletes and movie stars. Countries need nice taglines and headlines too.
In January 2021, football superstar Lionel Messi signed a USD 25 million deal to promote Saudi Arabian tourism. Come 2024, Messi became the face of men’s fashion wear in Saudi Arabia. An Argentinian footballer, playing for an American club, looking dapper in a traditional Saudi headgear (keffiyeh) – the photo cut through cultural and social boundaries. Precisely what the collaboration aimed at. An insane global reach of what is decidedly local, to help change Saudi Arabia’s perception as a friendly, modern, diverse, and welcoming country.
When Jeddah played host to the first Formula 1 race, Saudi Aramco, the national oil company, became the official sponsor. In 2022, the LIV Golf Tour held its first event in the kingdom, reportedly at the cost of USD 2 billion. Cristiano Ronaldo, the soccer powerhouse, chose Saudi club Al Nassr over Manchester United for a jaw-dropping USD 600 million. French footballers Karim Benzema and N’Golo Kanté followed suit to lead Saudi Pro League club Al-Ittihad.
Expect the trickle-down effect on local business, merchandise sales, local clubs, and sponsors, and one would have to accept that surely something…no, something big is being done right.
Every ambitious vision comes with its fair share of naysayers. The kingdom, known for its traditional approach to governance and social changes, has often been under the attack of human rights groups and environmentalists. Nevertheless, the Saudi government is determined that Vision 2030 will be one where prosperity and progress go hand in hand with an abundant, thriving natural ecology. The ruling government has taken steps to address these concerns directly and indirectly. Women’s participation in sports, in various capacities, seems to have taken the sharp criticism down a notch. With more and more Saudi youngsters growing up in the shadow of Vision 2030 being implemented, in a decade, the region will have changed the economy to match the emerging youth demographics.
NEOM, Qiddiya, Roshn, and Diriyah are set to become the cultural, sports, and entertainment quartet of the Middle East
Reports suggest that since 2016, sports have tripled their contribution to the country’s GDP. NEOM, Qiddiya, Roshn, and Diriyah are set to become the cultural, sports, and entertainment quartet of the Middle East. NEOM, the futuristic city powered by renewable energy and focused on sustainable living, is set to transform the northwest region into a tourism marvel. The massive infrastructure development is expected to generate over 70,000 jobs (direct and indirect) and a revenue contribution of SAR 22 billion. The Qiddiyah Entertainment Project, with over 300 recreational and entertainment facilities, is expected to generate over 25,000 jobs with an annual revenue of SAR 17 billion by 2030.
Roshn, a community development project, is set to increase homeownership among nationals. Saudi Arabia’s cultural centre, Diriyah, aims to welcome over 50 million visitors to explore the nation’s rich history, vibrant cuisine, and renowned hospitality. Given the push expected by FIFA in 2034 to attract footfall before, during, and after the event, this infrastructure has future use.
With over 500 women’s sports centres, there is a slow and steady uptick in socio-demographic change. Women’s football has been garnering interest, with Saudi Arabia’s women’s team having a FIFA world ranking for the first time
Between the launch of Vision 2030 in 2016 and hosting FIFA in 2034, 18 years of political will, economic challenges, and social changes will have elapsed. While the world will watch in anticipation as 48 teams battle it out for the golden cup, a sporting mega event will rake in the eyeballs and the footfalls. Qatar, its neighbour, took home over USD 17 billion in tourism revenue and drew 1.4 million visitors as the official FIFA host in 2022. Saudi Arabia is ensuring that it has all that the world wants when FIFA comes home in 2034.
This is one golden goal the Saudis will not miss.
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