Saudi Arabia is set to deliver a FIFA World Cup in 2034 that saves $450 million on costs but surpasses revenue trends. The bid evaluation document projects money from ticket and hospitality will surpass baseline projections by 32 percent, or $240 million. FIFA evaluated organizing costs using figures from previous World Cups, adjusted for the expanded 104-match format, a 14-stadium concept, inflation, and local economic conditions. While excluding expenses like prize money and team participation costs, FIFA highlighted Saudi Arabia’s competitive pricing, with key cost areas such as technical services and security forecast to be $133 million and $58.9 million below baseline, respectively.
In other news, Saudi Arabia’s capital marked a historic milestone this month with the launch of its first metro system - and it is already proving to be an instant success with 1.9 million passengers utilizing the transport link in the first week of operations. Riyadh Metro, which began operations on December 1, is a multi-billion-dollar project featuring six color-coded lines spanning 176 kilometres with 85 stations and has 183 trains manufactured by industry leaders Siemens, Bombardier, and Alstom, establishing itself as the world’s longest driverless metro network.
Economy, Budgets and Finance
Saudi Gazette: Saudi Arabia and UK commit to $37.5 billion trade target by 2030. Read Here
Arab News: Saudi Arabia invests $2.66billion to transform logistics infrastructure with 18 new zones. Read
Arab News: How the 2034 World Cup will change Saudi Arabia. Read Here
Saudi Press Agency: Saudi Economy's Liquidity Grows by over SAR247 Billion. Read Here
Government & Royal Family
Arab News: Deputy Foreign Minister meets with US ambassador into Saudi Arabia. Read Here
Security & Defence
Zawya: Saudi Arabia to buy three combat ships from Navantia. Read Here
Commercial
Alarabiya News: Saudi Arabia’s PIF acquires 15% stake in London’s Heathrow airport. Read Here
Arab News: Robust manufacturing sector lifts Saudi industrial index by 5%. Read Here
Saudi Gazette: First day of IMS24 sees signing of 19 deals to support global event industry. Read Here
Social
Alarabiya News: Saudi’s new Riyadh Metro sees almost 2 million passengers in its first week. Read Here
Arab News: Soundstorm was a great success with music legends Eminem, Linkin Park and A$AP Rocky. Read Here
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