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Feasibility Study for an Annual Saudi Global Cultural Festival in Al-Ula
Feasibility Study for an Annual Saudi Global Cultural Festival in Al-Ula :
Feasibility Study for an Annual Saudi Global Cultural Festival in Al-Ula: The project aims to launch an annual global Saudi cultural festival in Al-Ula, one of the most prominent tourist and cultural destinations in the Kingdom of Saudi Arabia. The festival aims to showcase Saudi heritage, artistic culture, music, and local and international literature, making it a global event that attracts visitors and tourists from around the world.
The festival represents a strategic opportunity to enhance Al-Ula’s global cultural standing, leveraging its unique cultural heritage and archaeological sites, including Mada’in Saleh, Jabal al-Fil, and the Old Town of Al-Ula. This project aligns with Saudi Vision 2030, which aims to promote cultural tourism and develop the events industry.
Investment Opportunity Content
Festival Components
Festival Components
1. Artistic and Musical Performances
International and local concerts featuring international stars and Saudi artists.
Saudi folklore performances representing different regions of the Kingdom.
Poetry and literary evenings featuring Arab and international poets and writers.
Plays and drama performances reflecting Saudi and Arab culture.
2. Visual and Interactive Arts
Exhibitions of traditional and contemporary Saudi art.
Light shows and modern technology on Al-Ula’s archaeological sites.
Interactive workshops in Arab sculpture and digital arts.
3. Traditional Markets and Handicrafts
A bazaar featuring local handicrafts such as pottery, carpets, and Asiri weaving.
Exhibitions of heritage products and souvenirs from different regions of the Kingdom.
Experience traditional Saudi cuisine through food stalls and mobile kitchens.
4. Cultural and Tourist Activities
Excursions to archaeological sites in Al-Ula.
Hot air balloon and small plane tours to see Al-Ula from above.
Camel and horse races celebrate Bedouin culture.
Educational activities on Saudi history and archaeology.
Demand and Market Analysis
Demand and Market Analysis
1. Demand for Cultural Events in Saudi Arabia
Saudi Arabia is witnessing rapid growth in the cultural and tourism events sector, with an increasing number of annual festivals such as the Riyadh Season, the Tantora Season, and the Red Sea Film Festival, which means there is a growing demand for these types of events.
2. Categories
International tourists interested in culture and the arts
Citizens and residents seeking a unique cultural and entertainment experience
Companies and businessmen interested in promoting events and investing in tourism
Media and influencers covering and broadcasting the event globally
3. Market Competition
While there are cultural festivals in Saudi Arabia, such as the Tantora Festival in Al-Ula, a multi-arts international cultural festival would be a unique addition, leveraging Al-Ula’s historical nature to attract a wider audience.
Financial Indicators and Costs
Financial Indicators and Costs
1. Investment Costs
Annual organizational costs: range between 150 and 250 million Saudi Riyals, including production, organization, logistics, and marketing.
Annual operating costs: range between 50 and 70 million Saudi Riyals, including wages, insurance, and promotion.
2. Financial Returns
Tax revenues: range between 100 and 150 million Saudi Riyals
Tax and advertising revenues: range between 500 and 80 million Saudi Riyals
Additional revenues from traditional markets and restaurants: range between 20 and 40 million Saudi Riyals
Return on Investment: range between 12% and 15% annually.
Payback Period: ranges between 5 and 7 years
Project Investment Benefits
Project Investment Benefits
1. Strong government support for the cultural and tourism sector.
Developing Al-Ula as a global cultural center with support from the Royal Commission for Saudi Arabia. Providing investment incentives and tax exemptions to attract tourism investments.
2. Growing demand for cultural tourism.
Increasing tourist interest and avoidance of cultural and artistic events at historical archaeological sites. Increased number of international visitors to Saudi Arabia after facilitating tourist visa procedures.
3. Potential for expansion and development.
Possibility of transforming festivals into events spanning several months.
Adding luxury temporary accommodation (glamping) to host visitors during the event.
Organizing mini versions of the festivals in other cities across the Kingdom.
Marketing and Promotional Methods
Marketing and Promotional Methods
1. Promotion through Media and Digital Platforms
Advertising campaigns targeting social media.
Engaging global and Arab influencers to promote the event.
Paid advertisements in international cultural and tourism magazines.
2. Collaborating with Tourism Companies and Hotels
Offering all-inclusive travel packages including wedding tickets, accommodation, and tours.
Partnering with Saudi Airlines and international airlines.
3. Hosting Global Launch Events
Organizing a global press conference to announce weddings annually.
Launching special campaigns in Dubai, London, Paris, and New York to attract a global audience
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