Cultural Development Fund Davos Debut

The Cultural Development Fund (CDF) of Saudi Arabia concluded its groundbreaking participation at the 2026 Annual Meeting of the World Economic Forum in Davos, Switzerland, marking the first time Saudi culture has been prominently featured at the world’s premier economic gathering. Held from January 19 to 23, this historic presence underscored the Kingdom’s commitment to positioning culture as a vital economic driver and strategic pillar for national development.

Hosted at the Saudi House, the Cultural Development Fund engaged over 200 international experts, including leading economists and investors, through a series of dynamic activities. These included a networking breakfast, panel discussions, and beneficiary talks on the NextOn platform, all designed to showcase culture not merely as artistic expression but as a powerful economic force.

A panel discussion at Saudi House titled "Investing in Culture As an Economic Engine" featuring Mohammed Islam and Majed bin Abdulmohsen Alhugail.

Economic Impact and Vision 2030 Targets

During the Davos panel, Majed bin Abdulmohsen Al-Hugail, CEO of the Cultural Development Fund, emphasized the transformative potential of the cultural sector. He highlighted ambitious targets aligned with Saudi Vision 2030, demonstrating how culture is becoming a cornerstone of the Kingdom’s economic diversification strategy.

“Saudi Arabia believes in culture as a pivotal force for economic diversification and quality of life. By 2030, the cultural sector is set to contribute USD 48 billion to GDP, create more than 346,000 jobs, and attract 22 million visitors. This underscores the Kingdom’s commitment to positioning culture at the heart of its sustainable development and future growth.”
Majed bin Abdulmohsen Al-Hugail, CEO of Cultural Development Fund

Empowering Entrepreneurship Through Cultural Financing

The CDF emphasized the critical role of financing in empowering entrepreneurship and amplifying the economic potential of the cultural sector. Notable participants in the NextOn talk series included Her Royal Highness Princess Noura bint Saud bin Naif Al Saud, Co-Founder of AlMashtal Creative Incubator, who addressed “Culture as Economic Infrastructure: Unlocking Human Capital Through the Creative Industries.” Additionally, Eng. Khalid Alhenaidy, CEO of the Arabian Housing & Building Company, contributed insights during a session titled “The Value in Cultural Assets.”

Moderator Mohammed Islam speaking into a microphone during the "Investing in Culture" panel discussion, seated with other experts on stage.

Strategic Collaborations and Investment Opportunities

Looking ahead, the CDF organized six strategic side meetings aimed at exploring new opportunities and fostering collaborations to accelerate the development of the Saudi cultural sector and attract global investment. The fund distributed 150 copies of the comprehensive investment report, “Saudi Cultural Market Outlook 2025: Vision, Impact, and Opportunities,” developed in partnership with the Ministry of Culture, the Ministry of Investment, and the Invest Saudi initiative.

Furthermore, the CDF showcased Saudi creativity by exporting 60 cultural products from Samuda, a fashion-sector beneficiary brand, highlighting the growing economic significance of the Saudi fashion market and demonstrating tangible results of cultural investment.

Guests networking in a modern wood-paneled lounge at Saudi House, with a server in traditional Saudi dress preparing coffee at a station.

A speaker delivering a presentation titled "The Value in Cultural Assets," sponsored by the Cultural Development Fund at Saudi House.

Future Outlook for Saudi Cultural Sector

This milestone reflects the CDF’s commitment to serving as a center of excellence and financial enabler for the Kingdom’s cultural sector. It underscores ongoing efforts to elevate Saudi culture on the global stage, maximizing its economic and social impact in alignment with the ambitious objectives of Saudi Vision 2030. The successful Davos participation sets a precedent for future international engagements and positions Saudi Arabia as a cultural and economic powerhouse in the global arena.