Economists lauded Saudi Arabia’s 2034 FIFA World Cup hosting rights as a milestone reflecting its global ambition. The event’s impact is expected to boost economic and tourism growth long before and after the tournament.
Experts told Argaam the World Cup aligns with Vision 2030 by diversifying the economy and enhancing Saudi Arabia’s global profile as a sports and tourism hub. This opportunity is set to attract massive investments, foreign capital, and growth in key sectors like tourism, transportation, and hospitality.
FIFA confirmed Saudi Arabia as the host after Wednesday’s Congress meeting, where the Kingdom, the sole candidate, secured the expanded 48-team tournament. Matches will span five cities, marking the first single-nation hosting at this scale.
Boosting non-oil growth
Policy expert Ahmed Alshehri said the 2034 World Cup will drive significant growth in Saudi Arabia’s non-oil economy. Investments in infrastructure, including transport, hotels, and public facilities, are expected to deliver lasting quality-of-life improvements.
Alshehri anticipates strong growth in the hospitality sector, driven by an influx of visitors to serviced apartments and tourist lodgings. This will boost revenues, diversify the economy, open new investment opportunities, and increase real estate asset values.
The event will also create jobs and enhance workforce skills, solidifying Saudi Arabia’s position as a global tourism and investment hub.
Economic academic Bandar Aljaid highlighted the World Cup’s alignment with Vision 2030 goals, forecasting a non-oil Gross domestic product (GDP) boost exceeding 10% in 2034. Growth will be fueled by increased investment and consumer spending, especially in tourism, entertainment, and hospitality.
Aljaid identified tourism, real estate, and technology as key growth sectors aligned with Saudi Arabia’s medium-term spending plans. He expects millions of visitors to spend billions of dollars before and during the event, significantly impacting the economy.
He also predicts heightened demand for residential, hotel, and commercial properties in host cities. The event will further spur innovation in smart solutions and digital services, amplifying its economic impact across sectors.
Real estate and infrastructure boom
Aljaid projected real estate growth in host cities, with Riyadh’s housing units potentially increasing 502% and NEOM and Abha seeing spikes of up to 2,274%.
Over 230,000 hotel units are planned, making Saudi Arabia the most prepared World Cup host. GDP could grow 1-2% during 2034, with potential for higher gains.
Infrastructure projects, including stadiums and smart cities like NEOM, will drive sustainable growth. These initiatives are expected to attract foreign investment, create 150,000–200,000 jobs during preparation, and leave long-term economic and social benefits.
Economist Eyas Al-Baroud highlighted the tournament’s potential to enhance infrastructure, drive private sector growth, and support Small and medium-sized enterprises (SMEs).
Increased government spending and job creation will benefit tourism, hospitality, and transport, while attracting global investment and reducing unemployment.
Long-Term Legacy
Al-Baroud emphasized Vision 2030’s focus on sports to fuel economic growth and boost spending. The plan includes 230,000 new hotel rooms across Riyadh, Jeddah, Al Khobar, Abha, and NEOM, strengthening Saudi Arabia’s capacity to host global visitors.
The World Cup will drive urban development, upgrade transportation, and improve quality of life in host cities. These enhancements will create a sustainable legacy, solidifying the Kingdom’s global competitiveness in tourism and investment.
Economists lauded Saudi Arabia’s 2034 FIFA World Cup hosting rights as a milestone reflecting its global ambition. The event’s impact is expected to boost economic and tourism growth long before and after the tournament.
Experts told Argaam the World Cup aligns with Vision 2030 by diversifying the economy and enhancing Saudi Arabia’s global profile as a sports and tourism hub. This opportunity is set to attract massive investments, foreign capital, and growth in key sectors like tourism, transportation, and hospitality.
FIFA confirmed Saudi Arabia as the host after Wednesday’s Congress meeting, where the Kingdom, the sole candidate, secured the expanded 48-team tournament. Matches will span five cities, marking the first single-nation hosting at this scale.
Boosting non-oil growth
Policy expert Ahmed Alshehri said the 2034 World Cup will drive significant growth in Saudi Arabia’s non-oil economy. Investments in infrastructure, including transport, hotels, and public facilities, are expected to deliver lasting quality-of-life improvements.
Alshehri anticipates strong growth in the hospitality sector, driven by an influx of visitors to serviced apartments and tourist lodgings. This will boost revenues, diversify the economy, open new investment opportunities, and increase real estate asset values.
The event will also create jobs and enhance workforce skills, solidifying Saudi Arabia’s position as a global tourism and investment hub.
Economic academic Bandar Aljaid highlighted the World Cup’s alignment with Vision 2030 goals, forecasting a non-oil Gross domestic product (GDP) boost exceeding 10% in 2034. Growth will be fueled by increased investment and consumer spending, especially in tourism, entertainment, and hospitality.
Aljaid identified tourism, real estate, and technology as key growth sectors aligned with Saudi Arabia’s medium-term spending plans. He expects millions of visitors to spend billions of dollars before and during the event, significantly impacting the economy.
He also predicts heightened demand for residential, hotel, and commercial properties in host cities. The event will further spur innovation in smart solutions and digital services, amplifying its economic impact across sectors.
Real estate and infrastructure boom
Aljaid projected real estate growth in host cities, with Riyadh’s housing units potentially increasing 502% and NEOM and Abha seeing spikes of up to 2,274%.
Over 230,000 hotel units are planned, making Saudi Arabia the most prepared World Cup host. GDP could grow 1-2% during 2034, with potential for higher gains.
Infrastructure projects, including stadiums and smart cities like NEOM, will drive sustainable growth. These initiatives are expected to attract foreign investment, create 150,000–200,000 jobs during preparation, and leave long-term economic and social benefits.
Economist Eyas Al-Baroud highlighted the tournament’s potential to enhance infrastructure, drive private sector growth, and support Small and medium-sized enterprises (SMEs).
Increased government spending and job creation will benefit tourism, hospitality, and transport, while attracting global investment and reducing unemployment.
Long-Term Legacy
Al-Baroud emphasized Vision 2030’s focus on sports to fuel economic growth and boost spending. The plan includes 230,000 new hotel rooms across Riyadh, Jeddah, Al Khobar, Abha, and NEOM, strengthening Saudi Arabia’s capacity to host global visitors.
The World Cup will drive urban development, upgrade transportation, and improve quality of life in host cities. These enhancements will create a sustainable legacy, solidifying the Kingdom’s global competitiveness in tourism and investment.
