By 2034, Saudi Arabia will take centre stage on the global map as host of the FIFA World Cup, a first for the Kingdom. Backed by an estimated $26 billion in infrastructure investment, this mega-event is more than a sporting spectacle; it is a strategic lever for national transformation. In this blog, we explore how the convergence of the 2034 World Cup and Vision 2030 is reshaping the Saudi business landscape. With over 15 years of local expertise, Peninsula is uniquely positioned to guide businesses in seizing the opportunities emerging from this pivotal moment. For executives considering expansion into the Kingdom, this is a window into the future.
Saudi Arabia's Vision 2030 is a bold national strategy to diversify the economy beyond oil and to transform the Kingdom into a global investment powerhouse. Hosting the World Cup complements this vision by accelerating reforms and catalysing investment in tourism, infrastructure, and services. The alignment is deliberate and strategic: by 2034, Saudi Arabia aims not just to host a world-class tournament, but to present a reimagined nation to the global business community.
In preparation for the 2034 World Cup, Saudi Arabia is investing an estimated $26 billion into infrastructure projects. This includes the development of 15 modern stadiums in key cities including Riyadh, Jeddah, Khobar, Abha, and the futuristic city of Neom. But this is just the beginning. Investment extends into airports, metro systems, and major upgrades to hospitality and urban infrastructure, significantly enhancing connectivity and quality of life.
Notable developments include King Salman Park, set to be the largest urban park in the world, and expansions at King Khalid International Airport to accommodate tens of millions of passengers. These projects are intended to serve the dual purpose of supporting the World Cup while leaving a lasting legacy of improved logistics and quality infrastructure for businesses and residents alike.
The Saudi Ministry of Economy estimates that over 1.5 million jobs will be created through World Cup-related projects, covering construction, engineering, hospitality, tourism, logistics, and entertainment. This hiring wave is part of a broader push to reduce the Kingdom's unemployment rate to under 7% by 2030, supporting Vision 2030’s labour market reforms.
The tournament is projected to inject billions into the local economy, with multiplier effects in small business growth, service sector expansion, and supply chain localisation. For foreign companies, this means partnerships, subcontracting, and talent sourcing opportunities within a vibrant, fast-scaling ecosystem.
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The Saudi National Tourism Strategy envisions hosting 150 million visitors annually by 2030, transforming the Kingdom into one of the world's top tourism destinations. The 2034 World Cup is a cornerstone event to deliver on this vision. In support, Saudi Arabia is building a comprehensive tourism ecosystem featuring luxury resorts, heritage sites, and entertainment zones.
Noteworthy is the Red Sea Project—a $500 billion tourism venture comprising over 90 islands—and Qiddiya, a mega entertainment city near Riyadh. The hospitality sector is seeing record growth in five-star hotel development, and the adoption of smart technologies is enhancing customer experience. Companies in F&B, travel tech, and tour operations are poised to benefit from the influx of World Cup fans and long-term leisure travellers.
Real estate demand is rising sharply in response to the expected World Cup-driven influx. The Ministry of Municipal and Rural Affairs and Housing is accelerating land release programmes and incentivising mixed-use developments across Riyadh and secondary cities. High-potential areas include Jeddah Corniche, King Abdullah Economic City, and zones surrounding new stadiums.
Market observers note a spike in commercial leasing, co-working spaces, and retail fit-outs, with rental yields in certain precincts already outperforming GCC peers. For developers, REITs, and investors, these trends suggest a golden decade of capital appreciation and rental income. Moreover, green building mandates and smart city frameworks are pushing innovation in the built environment.
While the opportunity is clear, entering the Saudi market still demands careful navigation. Setting up a business in the Kingdom involves a multi-step process governed by local regulatory frameworks. Licensing, commercial registration, and local partnerships are essential and time-sensitive.
This is where Peninsula steps in. With over 15 years of regional expertise and a track record that includes supporting Amazon and Best Western, Peninsula offers comprehensive support across every stage of market entry and business setup in Saudi Arabia.
The 2034 World Cup is not just a football tournament, it’s a showcase for the new Saudi Arabia, It represents a generational shift in how the Kingdom engages with the world, and for businesses, it is a once-in-a-lifetime gateway.
Now is the time to begin your journey.
Explore the opportunity. Book a free consultation with Peninsula today.
Alistair Paine brings 15 years of dedicated experience in Saudi market entry, guiding Fortune 500 companies and innovative scale-ups through successful establishment in the Kingdom. His expertise in Saudi company formation, licensing and market entry strategy, positions him as a leading authority and consultant in international business expansion to Saudi Arabia.
Schedule a free consultation with Alistair and the Peninsula team to understand which market entry strategy is best suited to your business setup in Saudi Arabia.
Email: Alistair@peninsulacs.com
