Saudi Arabia will invest $64 billion, equivalent to SEK 521 billion, in its entertainment industry over the coming decade.

The BBC reports that the initiative is part of the social and economic reform initiated under Crown Prince Mohammed bin Salman.

The reform effort was presented two years ago and is called Vision 2030. Apart from economically diversifying the country's oil dependence, it also aims to make the religious interpretation of Islam more moderate in the country.

Saudi Arabia has already announced the lifting of a 35-year ban on cinemas, and has also allowed women to attend football matches. In 2018, 5,000 entertainment events are planned, including performances by the music band Maroon 5 and circus group Cirque du Soleil.

Saudi Arabia is also building its first opera house and establishing an entertainment city near the capital Riyadh.

Source: finwire