Riyadh: The Capital of Transformation
Riyadh — Saudi Arabia's capital and largest city — is undergoing the most ambitious urban transformation programme on earth. Home to 7.95 million residents projected to reach 9.6 million by 2030, the city anchors Vision 2030's economic diversification across tourism, entertainment, culture, and technology. For visitors and tourism professionals, Riyadh offers an experience that combines three centuries of Saudi heritage with $819 billion in active megaproject construction — creating a destination unlike any other on earth.
The Saudi Tourism Authority (STA) reports the Kingdom welcomed 122 million visitors in 2025, with Riyadh as the primary international gateway. The 150 million annual visitor target by 2030 represents a 23% growth requirement — driven by Expo 2030 ($7.8 billion, 42 million projected visits), year-round cultural programming, and the Riyadh Season entertainment festival that attracted 20 million visitors and generated SAR 6 billion in its 2024-25 edition.
Riyadh Season: The World's Largest Annual Entertainment Festival
Launched in 2019 under the General Entertainment Authority (GEA), Riyadh Season has grown from a 66-day experiment into the world's largest annual entertainment event. The sixth edition (2025-26) runs October through March across 11 entertainment zones — including Boulevard City (six new experiences, 80+ restaurants, 14 plays), Boulevard World (adding Indonesia, Kuwait, and South Korea), and the all-new Beast Land (MrBeast-themed gamified experience). The GEA's chairman Turki Alalshikh announced the Riyadh Season brand has reached a market value of $3.2 billion.
The economic impact is staggering: 200,000+ direct and indirect jobs created, business opportunities for nearly 2,000 local and international companies, 7+ million square meters of entertainment space, and global media exposure through world-championship boxing (Beterbiev vs Bivol, Benavidez vs Yarde), WWE Royal Rumble (January 31, 2026 at KAFD Stadium), Supercoppa Italiana, Six Kings Slam tennis, and MDLBeast Soundstorm. Boulevard Flowers alone spans 214,000 sqm with 200 million planted flowers and three Boeing 777 aircraft installations.
Heritage & Cultural Districts
Diriyah Gate is a $60+ billion heritage destination district surrounding the At-Turaif UNESCO World Heritage Site — the birthplace of the first Saudi state. Phase One includes Zallal retail village (opened H1 2025), Time Out Market (2027), 450+ luxury brand target, with prime rents at SAR 3,500+/sqm per JLL. The Ashoka Buildcon-BEC Arabia JV secured a $191.2 million Diriyah II hotel construction contract in February 2026.
The National Museum and Masmak Fortress anchor Riyadh's historic core, while the Noor Riyadh annual light art festival has become one of the world's largest light art events. The Ministry of Culture and GEA jointly fund the Riyadh Art citywide public art programme, commissioning installations across KAFD, Diriyah, and the planned New Murabba cultural facilities.
Transport & Accessibility
The Riyadh Metro — 176km, 85 stations, 6 lines — carried 162 million passengers in its first operational year (launched January 2025), exceeding projections by 40%. The BRT network adds 1,200+ buses across 22 routes. King Khalid International Airport is expanding to handle 120 million passengers annually, with a dedicated Expo 2030 Metro Station on Line 4 (Yellow Line) tendered by RCRC in February 2026 (bid deadline: May 3, 2026). The seamless integration of metro, BRT, and dedicated event shuttle services positions Riyadh as the most accessible mega-event destination in the Gulf region.
Expo 2030: The Defining Mega-Event
Expo 2030 Riyadh (October 1, 2030 - March 31, 2031) is the single largest tourism catalyst in Saudi history. The $7.8 billion world exposition across a 6 million sqm greenfield site will host 197 nations, 29 organisations, and 42+ million visits across five themed districts. As of February 2026: 1.5 million sqm levelled (25%), Bechtel PMC, Buro Happold Lead Design, Nesma & Partners awarded the main infrastructure contract (approximately SAR 1 billion for 50km of utilities networks), and four national companies contracted for site preparation. The PIF projects Expo 2030 will contribute $64 billion to GDP and generate 171,000 direct and indirect jobs.
Hospitality & Accommodation
Riyadh's hotel market is expanding rapidly to meet tourism targets. New Murabba alone adds 10,100 hotel rooms — more than many entire cities. Luxury brands include Four Seasons, Ritz-Carlton, Mandarin Oriental, Rosewood, and the planned Aman and Six Senses properties at AMAALA. RevPAR has risen consistently since 2019 as corporate relocations (660+ HQs under the Regional Headquarters Program) and tourism growth drive sustained occupancy above 70% year-round, with peaks exceeding 90% during Riyadh Season and major events.
Practical Visitor Intelligence
Best visit window: October through March (15-25°C, coincides with Riyadh Season). Visa: Tourist e-visa available for 49+ nationalities. Currency: SAR (pegged to USD at 3.75). Language: Arabic (English widely spoken in hospitality/business). Transport: Riyadh Metro, ride-hailing (Uber, Careem), rental cars. Key districts: Olaya (business/shopping), KAFD (financial center), Diriyah (heritage), Boulevard (entertainment). The city is investing heavily in walkability, public realm improvements, and green space — New Murabba alone includes 2.3 million sqm of green space representing 12% of the district area.
Regulatory Environment: 2026 Reforms
Saudi Arabia's regulatory landscape underwent transformative change in early 2026. The Non-Saudi Real Estate Ownership Law (Royal Decree M/14, effective January 22, 2026) permits foreign ownership of commercial and residential property for the first time. The Capital Market Authority (CMA) abolished the Qualified Foreign Investor regime on February 1, 2026 — all foreign investors now eligible for Saudi capital markets, REITs, and tokenized assets. REGA has approved 9 real estate tokenization platforms (Ghanem, Jozo, Sahl, Madak, Nola, HissaTech, Hseel Tech, Dropp, Gamma Assets), with comprehensive regulations expected June 2026. The Saudi Depositary Receipts framework (July 2025) adds cross-listing capabilities. These reforms collectively create the most accessible investment environment in Saudi history.
Vision 2030 Strategic Context
Vision 2030's 96 strategic objectives across 13 Vision Realization Programs (VRPs) systematically generate demand across every sector covered by the Riyadh Intelligence Network. Key targets: 150 million annual tourists by 2030 (122 million achieved 2025), unemployment below 7%, female workforce participation above 30% (achieved), homeownership at 70% (from 63.7%), entertainment spending at 6% of household budgets, and GDP contribution from non-oil sectors exceeding 50%. Each target translates into measurable demand for infrastructure, services, housing, and expertise — creating multi-year investment opportunities with structural government backing. The Kingdom's construction pipeline: $819 billion across 5,200+ active projects.
Conclusion
Riyadh offers a generational opportunity powered by unprecedented government commitment ($925 billion+ PIF), structural demographic demand (70% under 35, population growing to 9.6 million by 2030), transformative regulatory reform (foreign ownership, QFI abolition), and dual mega-event catalysts (Expo 2030, FIFA 2034). The combination of $819 billion in active construction, zero personal income tax, SAR-USD peg stability, and the most comprehensive market opening in Saudi history creates an investment environment unmatched by peer cities in the Gulf, Asia, or broader emerging markets. This platform provides the intelligence infrastructure for informed professional participation.