BUSINESS
Goals and Ambitions
The program ensures the implementation of its specific objectives in different regions of the Kingdom. Given the nature of the program, it will contribute to the wide range of goals and aspirations set out in Vision 2030. There are 23 Quality of Life Program objectives identified, including four objectives directly related to the concept of lifestyle: • Promotion of sporting activities • Excellence in several sports regionally and globally. • Development of diverse entertainment opportunities to meet the needs of the population.
FOUNDATIONS OF TOMORROW Investing in the Kingdom’s Quality of Life As part of the initiatives meant to fulfill the Vision 2030, the Council of Economic and Development Affairs launched the Quality of Life Program 2020. Its main goal is to strengthen cultural and economic foundations of the Kingdom. The Program is designed to promote new options for participation in cultural events as well as entertainment and sporting activities that contribute to the quality of life. The program also underlies the creation of jobs, and investment opportunities, as well as diversified economic 22 DESTINATION RIYADH JUNE 2018
activities that will enhance the status of Saudi cities so that their international rankings rise in the most livable cities index. The total expenditure in sectors related to the Quality of Life Program 2020 will reach SR130 billion ($34.6 billion), of which SR74.5 billion will constitute direct investment in the program. Government capital expenditure will surpass SR50 billion by 2020, and investments available to the private sector will amount to around SR23.7 billion for the same period. QoL is also envisioned to increase the nonoil GDP by 20% by 2020.
Saudi Cities Among the Top 100 Cities in the World
The overarching goal of the Quality of Life Program 2020 is to see at least three Saudi cities included in the list of the world’s top 100 most livable cities by 2030. While the overall aspiration focuses on three cities, the program covers all aspects of Saudi society and is dedicated to improving the lifestyle of citizens and residents all over the country.
Attractive Investment Opportunities
Quality of Life 2020 aspires to provide economic and investment opportunities for sustainable growth and development. Creative industries have proved to
PHOTO CREDIT/ CENTER FOR INTERNATIONAL COMMUNICATION, SAUDI ARABIA
QoL 2020:
• Enhancement of Saudi contribution to arts and culture.