2034 World Cup: Unlocking Business Opportunities in Saudi Arabia
Explore how the 2034 World Cup and Saudi Vision 2030 are unlocking business opportunities in Saudi Arabia. Discover investment trends, job growth, and setup advice.
The 2034 FIFA World Cup is a defining moment in Saudi Arabia’s transformation under Vision 2030. 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.
For international businesses, it represents a once-in-a-generation opportunity to establish a foothold in the Gulf’s fastest-evolving economy.
From infrastructure and entertainment to hospitality and logistics, sectors across the board are primed for growth. In this article, we’ll explore how the convergence of the 2034 World Cup and Vision 2030 is reshaping the Saudi business landscape, the strategic openings the World Cup unlocks, and what steps businesses can take today to capitalise on this momentum.
Why the 2034 World Cup is Different: A Strategic Megaproject
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.
Tourism and Hospitality: Aiming for 150 Million Visitors
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.
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.
Together, these initiatives form a compelling foundation for global companies considering Saudi Arabia.
Core Sectors Primed for Growth
1. Entertainment in Saudi Arabia
Saudi Arabia is investing over $64 billion in its entertainment sector. With the World Cup as a keystone event, the nation is launching cinemas, festivals, live performances, and esports hubs, presenting massive opportunities for:
Content production companies
Venue operators
Event management firms
2. Hospitality and Tourism
The World Cup will dramatically boost inbound travel, with a major push to expand:
Hotel infrastructure
Luxury resorts and heritage stays
Tour operations and concierge services
Businesses that align with Saudi Arabia’s focus on high-end, culturally immersive tourism will thrive.
3. Infrastructure and Construction
New stadiums, transit systems, and urban development zones are underway, echoing lessons from Qatar’s 2022 investment boom. Contractors, engineers, and smart-city solution providers will find strong demand.
4. Technology and Smart Solutions
With smart cities like NEOM in the spotlight, Saudi Arabia seeks to embed innovation across transportation, energy, security, and fan engagement. Tech startups and global vendors in AI, IoT, and clean energy should take note.
Job Creation & Economic Multiplier Effects
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.
How Foreign Businesses Can Invest Before 2034
Foreign investors can position themselves for the World Cup through:
Establishing a Local Entity
Mainland LLCs or Branches for operational scale
100% foreign ownership now available in most sectors
Partnering with Vision 2030 Giga-Projects
Supply chain, content, infrastructure, or retail integration
Engaging Saudi's Event Ecosystem
Plug into Riyadh Season, Diriyah Biennale, and other cultural events to build presence before 2034
Navigating Incentive Zones
Economic Cities like King Abdullah Economic City (KAEC) offer tax breaks, customs advantages, and fast-track licensing
Navigating Compliance and Business Setup Requirements
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 a showcase for the new Saudi Arabia, representing a generational shift in how the Kingdom engages with the world, and for businesses. It is a once-in-a-lifetime gateway.
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.
Will Saudi Arabia allow alcohol for the World Cup?
Saudi Arabia will maintain its ban on alcohol consumption during the 2034 FIFA World Cup. Authorities have confirmed that there are no plans to permit alcohol sales in hotels, fan zones, or stadiums, and the country's strict prohibition laws will remain fully in effect throughout the tournament.
How big is the entertainment market in Saudi Arabia?
Saudi Arabia’s entertainment market is currently valued at around USD 2.8 billion and is forecasted to grow to nearly USD 5 billion by 2030. This growth is fueled by major government-led initiatives that promote cinema expansion, music festivals, and theme park developments as part of the country’s Vision 2030 goals.
What industry is booming in Saudi Arabia?
Saudi Arabia’s fastest-growing industries include entertainment, tourism, and advanced manufacturing. Massive investments in cultural events, giga-projects like NEOM and Qiddiya, and emerging sectors such as electric vehicles, robotics, and lithium mining are driving the country's transition beyond oil dependency and positioning it as a diversified economic hub.