Summary The announcement marks the first time that cinemas will be opened in Kingdom in 35 years.
(Web desk)- As per initial estimates of Saudi Arabia s Ministry of Culture and Information, commercial cinema would add whooping $24 billion to country’s Gross Domestic Product (GDP) every year.
The announcement marks the first time that cinemas will be opened in Kingdom in 35 years.
The ministry stated that thousands of new jobs will be created and opening of commercial theatre would have positive impact on country’s economy.
Analysts, terming aforementioned development as watershed moment, estimate that cinema industry would produce nearly 30,000 direct employment opportunities and over 130000 indirect employment opportunities by 2030.
Recently, the Board of the General Commission for Audiovisual Media (GCAM) passed a resolution to allow the ministry to grant licenses to cinemas.
This announcement is part of Saudi Arabia’s Vision 2030 social and economic reform program.
