Saudi Arabia plans to invest 100 billion Saudi rials, or $26.66 billion, in sports projects and infrastructure needed to host the 2034 World Cup, a Saudi Investment Ministry official said.
According to Basim Ibrahim, director of investment development in the sports sector at the ministry, the majority of projects will be financed by public institutions, notably the Public Investment Fund and the oil company Aramco.
Government financial support for sports investments will continue at the rate of 60 billion rials per year ($16 billion).
FIFA has officially designated Saudi Arabia as the host country for the 2034 World Cup, making it the first country to organize a 48-team edition on its own. To meet this challenge, the kingdom is committed to building 11 new stadiums with a total capacity of more than 775,000 seats. Eight stadiums will be located in Riyadh, four in Jeddah and three others spread between Al Khubar, Abha and Neom.
Among these infrastructures, the King Salman stadium, construction of which will begin in 2025 with an inauguration planned for 2029, will be the jewel of the system. With a capacity of 92,000 seats, this stadium will host the opening matches and the final of the tournament.
In addition to stadiums and training facilities, Saudi Arabia is focusing on improving its tourism offering. The country plans to create more than 232,000 FIFA-standard hotel units across the five host cities, providing around 175,000 additional beds to accommodate the fans expected in large numbers.
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