Source: exhibitionnews.uk

Saudi Arabia’s PIF forms Expo 2030 Riyadh Co. to drive landmark event

What the source says

“Saudi Arabia’s Public Investment Fund (PIF) has launched Expo 2030 Riyadh Co. (ERC), a wholly owned entity that will lead the development, management, and operation of the Kingdom’s first World Expo, overseeing both infrastructure delivery and event programming for the global event.”

Background & context

Saudi Arabia’s Public Investment Fund (PIF) has recently established Expo 2030 Riyadh Co. (ERC), which will oversee the country’s inaugural World Expo. This significant development aims to facilitate the infrastructure and programming of the event, marking a major step towards diversifying the Saudi economy in line with the Vision 2030 initiative.

What’s new

Expo 2030 is set to take place in Riyadh from October 1, 2030, to March 31, 2031. The total area of the Expo site will span 6 million square meters, making it one of the largest ever constructed for a World Expo. ERC is tasked with coordinating various aspects of the event, including construction and cultural programming, while also focusing on legacy planning for the site post-event.

Why it matters for exhibitors

The establishment of ERC and the upcoming Expo 2030 presents an unprecedented opportunity for exhibitors worldwide. The expected visitation of over 40 million during the six-month period indicates a vibrant market for exhibitors to showcase their products and services. Additionally, the potential for creating approximately 171,000 jobs is promising for economic stakeholders.

Opportunities for contractors

Contractors will find numerous opportunities related to infrastructure development and event management for Expo 2030:

• Construction of pavilions and facilities at the Expo site.
• Development of logistical support systems to manage visitor flow and services.
• Provision of cultural programming that aligns with the Expo’s themes.
• Engagement in sustainable practices for long-term site usage and development.

Market outlook & action checklist

• Prepare for tender opportunities in construction and infrastructural development.
• Identify potential partnerships with local businesses and international firms.
• Engage in discussions on sustainability practices to align with Saudi Arabia’s commitments.
• Explore avenues for cultural exchange and programming at the Expo.
• Assess the potential for long-term engagement post-Expo through the development of the ‘global village.’

Executive Summary

• Saudi Arabia’s PIF has formed ERC to manage Expo 2030.
• Expo 2030 will occur from October 1, 2030, to March 31, 2031, in Riyadh.
• Over 40 million visitors are expected at the event.
• The development phase is projected to contribute $64 billion to the GDP.
• Contractors have significant opportunities in construction and programming.

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