Kingdom’s Council for Economic Development to spend $35bn on Saudi lifestyles by 2020

JEDDAH: The Council of Economic and Development Affairs (CEDA) has launched the Quality of Life Program 2020, one of the Vision Realization Programs 2030 approved by the Council of Ministers.

The implementation plan for the program reflects the vision of the government of King Salman and Crown Prince Mohammed bin Salman to prepare the environment to improve individuals and families’ lifestyle. 

It will also enhance participation in cultural, entertainment, sports and other activities that contribute to the quality of life and to job creation, as well as encourage investment opportunities and diversification of economic activities, while enhancing the status of Saudi cities in the ranking of the best cities in the world.

Total expenditure will be SR130 billion ($34.6 billion), of which SR74.5 billion is total direct investment in the program. 

Government capital expenditure is more than SR50 billion until 2020, and investments available to the private sector are around SR23.7 billion.

This does not include all forms of capital expenditure in major projects such as the Qiddiya project, the Red Sea project, Al-Dariyah Gate project, Historical Jeddah project, and the Royal Commission for Al-Ula, in addition to all related projects of the private sector, with total investments exceeding SR86 billion.

The program aims to achieve non-oil GDP growth in the related sectors 0f 20 percent a year until 2020, and the contribution of local content by 67 percent until 2020. 

The program indicators within macroeconomic measures include creating more than 346,000 jobs and generating non-oil revenues of SR1.9 billion.

The overarching goal is to have at least three Saudi cities included in the list of the top 100 cities in the world to live in by 2030. While the overall aspiration refers to three cities in the Kingdom, the program aims for the improvement of the lifestyle of citizens and residents throughout Saudi Arabia.

Quality of Life 2020 aspires to provide economic and investment opportunities for sustainable growth and development. Creative industries have proved to be key drivers of economic growth around the world.

 A number of funding models will be developed to stimulate the private sector to invest in both capital expenditures and operating expenses.

The program uses educational institutions and sports clubs to promote sports activities in the community by diversifying activities and facilitating access to sports services. This is in addition to upgrading the infrastructure available for sporting activities.

The program aims to provide 492 suitable places for sport as well as increasing the use of sports facilities from 8 percent to 55 percent. It also aims to contribute to the distinction of Saudi sport globally, by preparing a number of elite athletes in the Kingdom and improving their performance to participate effectively in the Olympic Games.

The program promotes the athletic participation of girls at school. It aims to have 325,000 girls taking part in physical education classes, training 7,500 teachers and providing 1,500 schools with gyms.

The program also promotes the Kingdom’s contribution to arts and culture through the elevation and development of cultural and artistic fields (visual arts, performing arts, filmmaking, poetry, design and national heritage) by focusing on refining the talents of artists and amateurs, increasing and improving the quality of domestic production and enhancing the Kingdom’s international presence in the arts and culture. 

The program also aims to establish an island for arts and culture in Jeddah, including 45 cinemas, 16 theaters and 42 libraries, and the Royal Arts Complex in Riyadh by 2020 to promote the arts and culture sector in Kingdom.