Cinema estimated to contribute $24 billion to Saudi economy

The sector will create more than 30,000 full-time jobs by 2030. (AP)

The Saudi Arabian Ministry of Culture and Information has estimated the contribution of the cinema sector to its GDP to be over $24 billion (90 billion riyals) after its launch soon.

According to the ministry, employment generated by the cinema industry will create a large impact on the economy which will increase the media market and stimulate economic growth and diversification. The sector will create more than 30,000 full-time jobs, in addition to 130,000 part-time jobs by the year 2030.

The Board of Directors of the Saudi General Authority for Audiovisual Media, chaired by the Minister of Culture and Information Dr. Awad bin Saleh al-Awad, had approved to provide licenses for those interested in opening up Cinema theaters in the Kingdom.

In the 1930s, cinema theaters existed only in private compounds for western employees, built by Aramco, previously known as the California Arabian Standard Oil Company.

Last Update: Wednesday, 20 May 2020 KSA 09:49 - GMT 06:49