Founded by the General Authority for Military Industries (GAMI), Saudi Arabia’s opening World Defense Show is established to have a major influence on the Kingdom’s local economy, as per a report by consultancy Ernst & Young (EY) – producing thousands of jobs alongside an economic impact of SAR 700 million (USD 186.49 million).
Saudi’s World Defense Show
As Saudi Arabia seeks to localize 50% of its military expense under the national Vision 2030 philosophies, the event that is taking place in Riyadh from March 6 to March 9 under the patronage of the Custodian of the Two Holy Mosques King Salman, will reveal prospects for international exhibitioners and guests to be a fragment of the country’s progression.
As per EY analysis, which took into account the factors varying from daily visitor expenditure to imports and exports, the World Defense Show will birth SAR 700 million (USD 186.49 million) worth of economic activity in the next 10 years. The estimations also highlight that 4,825 Saudi-based jobs will be assisted by the show in industries like construction, hospitality, and transport.
The World Defense Show will portray Saudi Arabia’s defence ecosystem and capacities, featuring local organizations like the Ministry of Defense, the General Authority for Military Industries (GAMI), the Presidency of State Security, the Ministry of Interior, and WDS Strategic Partner Saudi Arabian Military Industries (SAMI).
With the broad majority of exhibition space dedicated to the 800,000 square meter venue, the show has enticed colossal interest from the global defence sector.
Conglomerates and multinational companies alongside start-ups are eager to exhibit and demonstrate their most recent assets and technologies in an optimal networking setup for cooperation and innovation.