Saudi cultural fund highlights economic role of culture at Davos
- SAUDI ARABIA BREAKING NEWS
- 5 days ago
- 2 min read
Riyadh, January 23, 2026 (Saudi Arabia Breaking News) – Saudi Arabia’s Cultural Development Fund (CDF) concluded its participation at the World Economic Forum’s annual meeting in Davos on Thursday, after hosting a series of activities at the Saudi House focused on positioning culture as an economic growth driver.
The fund engaged more than 200 international experts, including economists and investors, through a programme that included a networking breakfast, a panel discussion and beneficiary talks on the NextOn platform.
During a Davos panel, CDF Chief Executive Majed Al-Hugail highlighted Saudi Arabia’s view of culture as a pillar of economic diversification and quality of life. He said the cultural sector is projected to contribute $48 billion to gross domestic product by 2030, create more than 346,000 jobs and attract 22 million visitors.
The fund held six side meetings aimed at exploring partnerships to accelerate the development of the Saudi cultural sector and attract global investment.
As part of its programme, the fund distributed 150 copies of the investment report Saudi Cultural Market Outlook 2025: Vision, Impact, and Opportunities, developed in partnership with the Ministry of Culture, the Ministry of Investment and the Invest Saudi initiative.
The fund also highlighted the role of financing in supporting entrepreneurship across the creative industries. Participants in the NextOn talks included Princess Noura bint Saud bin Naif, co-founder of AlMashtal Creative Incubator, who addressed “Culture as Economic Infrastructure: Unlocking Human Capital Through the Creative Industries,” and Eng. Khalid Alhenaidy, chief executive of Arabian Housing & Building (AHB) Company, who spoke on “The Value in Cultural Assets.”
In addition, the fund showcased Saudi creativity by exporting 60 cultural products from Samuda, a beneficiary brand in the fashion sector.
The CDF said its participation reflects ongoing efforts to elevate Saudi culture internationally and expand its economic and social impact in line with Saudi Vision 2030.
