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Saudi Arabia Event Management Industry Market Size (2024 - 2029)

The market size of the event management industry in Saudi Arabia is projected to grow substantially due to a variety of factors. These include an increased focus on sustainable and ethical event practices, the rising demand for private events driven by increased personal income and evolving lifestyles, and economic development fueling the need for high-quality and diverse event experiences. The industry is also investing in the research and development of new event technologies and improving logistical strategies to deliver seamless experiences. Favorable policies promoting sustainable event practices and local tourism are also encouraging the adoption of advanced event management techniques, supporting the market's expansion.

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Market Size of Saudi Arabia Event Management Industry

Saudi Arabia Event Management Summary
Study Period 2019- 2028
Base Year For Estimation 2022
Market Size (2023) USD 595.80 Million
Market Size (2028) USD 941.30 Million
CAGR (2023 - 2028) 9.58 %
Market Concentration Medium

Major Players

Saudi Arabia Event Management Major Players

*Disclaimer: Major Players sorted in no particular order
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Saudi Arabia Event Management Market Analysis

The Saudi Arabia Event Management Industry is expected to grow from USD 595.80 million in 2023 to USD 941.30 million by 2028, at a CAGR of 9.58% during the forecast period (2023-2028).

The Saudi Arabian event management industry grew by a significant level before the COVID-19 outbreak due to the rising number of weddings, festivals, public events, birthday parties, conferences, and fundraising events. However, during the pandemic, the market revenues saw a drastic decline because of lockdowns and restrictions on public gatherings to curb the spread of the virus. However, with the country recovering from the pandemic and the government easing the restrictions, the market is expected to have steady growth during the forecast period.

Saudi Arabia has been working on creating a one-of-a-kind and world-class entertainment hub that includes innovative, cultural, or historical attractions and mega sporting events, which is expected to create more growth opportunities for the country's event management market. Saudi Arabia launched a wide-reaching social and economic initiative, Saudi Vision 2030, with an ambitious goal to develop the economy across industries that include technology, events, healthcare, tourism, education, and finance. The Kingdom of Saudi Arabia is experiencing rapid change in infrastructure, business, and society. As a business events destination, Saudi Arabia has its own characteristics, requirements, and dynamics.

Saudi Arabia Event Management Industry Segmentation

Events refer to public gatherings at a determined time and place. Event management is the process of planning these events. 

Saudi Arabia's Event Management Industry is Segmented by End User (Corporate, Individual, and Public), Type (Music Concerts, Festivals, Sports, Exhibitions and Conferences, Corporate Events and Seminars, and Other Types), and Revenue Source (Ticket Sales, Sponsorship, and Other Revenue Sources). The market sizes and forecasts for the above segments are provided in value terms.

By End User
Corporate
Individual
Public
By Type
Music Concert
Festivals
Sports
Exhibitions and Conferences
Corporate Events and Seminars
Other Types
By Revenue Source
Ticket Sale
Sponsorship
Other Revenue Sources

Saudi Arabia Event Management Industry Size Summary

The Saudi Arabia Event Management Industry is on a growth trajectory with a rise in demand for various types of events such as conferences, exhibitions, corporate seminars, promotional and fundraising events, music and art performances, sports events, festivals, trade shows, and product launches. The key players in the events industry include corporate organizations, public organizations, and non-governmental organizations (NGOs). The success in this field requires creativity and flexibility from event managers, who combine project management principles with creative thinking to ensure that events achieve their objectives. The increasing focus on sustainable and ethical event practices is driving the demand for event management services in Saudi Arabia, with the industry offering a wide range of efficient and impactful solutions. Saudi Arabia has become a prominent global center for international events and exhibitions, showcasing its rich cultural heritage and rapid economic growth. This is expected to boost market growth in the coming years. The event planning industry has seen significant changes, mainly fueled by the integration of advanced technologies like VR, AR, and event management software, which have revolutionized the way events are planned, executed, and monitored. The industry is fragmented in nature with a considerable presence of regional and local players, including major international players like SoundKraft LLC, Global Event Management, Alpha Conferences & Exhibitions, Masaahaat, and Addenterprise.

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Saudi Arabia Event Management Industry Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End User

      1. 2.1.1 Corporate

      2. 2.1.2 Individual

      3. 2.1.3 Public

    2. 2.2 By Type

      1. 2.2.1 Music Concert

      2. 2.2.2 Festivals

      3. 2.2.3 Sports

      4. 2.2.4 Exhibitions and Conferences

      5. 2.2.5 Corporate Events and Seminars

      6. 2.2.6 Other Types

    3. 2.3 By Revenue Source

      1. 2.3.1 Ticket Sale

      2. 2.3.2 Sponsorship

      3. 2.3.3 Other Revenue Sources

Saudi Arabia Event Management Industry Market Size FAQs

The Saudi Arabia Event Management Market size is expected to reach USD 595.80 million in 2023 and grow at a CAGR of 9.58% to reach USD 941.30 million by 2028.

In 2023, the Saudi Arabia Event Management Market size is expected to reach USD 595.80 million.

Saudi Arabia Event Management Industry Report Snapshots