Saudi Arabia’s domestic spending on domestic entertainment amounted to $11 billion. As for outdoor entertainment, Saudis spend $26 billion on it. This brings the total Saudi spending on entertainment to $37 billion. Thus, investing in a shooting clubproject in Saudi Arabia represents an investment opportunity during 2022, especially in light of the Kingdom of Saudi Arabia’s 2030 vision to advance the national economy, strengthen the components of the non-oil economy, and seek to occupy a distinguished position among global economies.
What is a shooting club?
The sport of archery relies on aiming at a specific target. There are seven different types of archery: Venice. Archery, Skeet. down the line. Free pistol. and rapid-fire archery. In all of them, different weapons and ammunition are used. The Archery Club offers shooting instruction. It offers various competitions and events in collaboration with interns and specialists. This is part of the country’s Vision 2030 plan to increase household spending on entertainment from 2.9% to 6%.
according to data from the General Authority for Statistics:
The number of sports and recreational facilities is about 1,570. It represents 2.2% of the total tourism establishments.
The number of players in the Saudi Archery Federation has reached 55. There are 15 coaches for the sport and only 36 referees.
Makkah ranks first in the list of practicing sports in Saudi Arabia, with 23.10%. Followed by the Eastern Province with 21.50%.
Saudi Arabia’s Entertainment Sector Indicators
The Saudi government is targeting to raise the percentage of household spending on leisure activities from 2.9% to 6%. The number of Saudi companies in the entertainment sector has increased. From 22 companies in 2016 to 2054 companies in 2020. According to Mashreq, Saudi Arabia intends to develop entertainment services by about SAR 30 billion. This makes investing in entertainment projects in Saudi Arabia one of the most promising investment opportunities.
For more details about the latest economic indicatorsand investment opportunities in Saudi Arabia, as well as the most prominent financing entities that support successful investment projects in Saudi Arabia, you can contact the investor service team from Mashrouk Consulting.
