Saudi Arabia to invest $71 billion in entertainment projects

<p>&nbsp;Investments in the entertainment sector are set to reach $4.8 billion annually, according to a 2018 report from Flanders Investment and Trade.</p>
<p>The news comes after <a href="http://www.inavateonthenet.net/news/article/saudi-arabia-to-invest-35-billion-in-cinemas-by-2020">GCAM announced plans to invest $35 billion in cinemas by 2020.</a> </p>
<p>The announcement was made at the Cinema Build KSA Forum, where Vox Cinemas was awarded the second license to open cinemas in the kingdom. <br />
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The company plans to invest half a billion dollars in 600 screens over the next five years, aiming to bring the number of cinemas in operation in the country up to 350. </p>
<p>The first cinema opened in the country for the first time in 30 years in April 2018 after a controversial cinema ban was lifted in 2017 as part of a modernisation effort by Crown Prince Mohammed bin Salman.</p>
<p>30 cinemas are planned to be opened in 15 cities across Saudi Arabia within the next five years. </p>
Source: inavateonthenet

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