Saudi Arabia’s World Defense Show to generate thousands of jobs plus SAR700 million economic impact, according to EY report
- Date: 11th January 2022
- Company: World Defense Show
Founded by the General Authority for Military Industries (GAMI), Saudi Arabia’s inaugural World Defense Show is set to have a major impact on the Kingdom’s local economy, according to a report by consultancy Ernst & Young (EY) –generating thousands of jobs plus an economic impact of SAR 700 million.
As Saudi Arabia looks to localize 50% of its military expenditure under national Vision 2030 objectives, the event – taking place in Riyadh from 6-9 March 2022 under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud – will unlock opportunities for international exhibitors and visitors to be part of the Kingdom’s growth.
According to the EY analysis, which considered factors ranging from daily visitor spend to imports and exports, World Defense Show will create SAR 700 million of economic activity by 2030.
The figures also suggest that 4,825 Saudi-based jobs will be directly supported by the show in sectors including hospitality, construction and transport.
World Defense Show will demonstrate Saudi Arabia’s defense ecosystem and capabilities, featuring local entities like show founder General Authority for Military Industries (GAMI), Ministry of Defense, Ministry of National Guard, Ministry of Interior, Presidency of State Security and WDS Strategic Partner Saudi Arabian Military Industries (SAMI).
With the vast majority of exhibition space allocated across the 800,000 sqm purpose-built venue, the event has attracted overwhelming interest from the global defense industry.
Multinational firms and start-ups across air, land, sea, space and security are set to exhibit and demonstrate their latest assets and technologies in an optimal networking environment for collaboration and innovation.
Registration for industry professionals is available now through the World Defense Show website. All vetted international attendees will receive a complimentary multi-entry visa to Saudi Arabia – valid for one year – to facilitate progress and developments in the Kingdom’s defense industry post-show.