Connect with us

-

MDLBEAST 2023 Report Shows Growing Impact on Three Main Economic Sectors: Advancing Vision 2030 Goals

Published

on

Boosting the Saudi economy with SAR 1.45 billion.
Three main sectors benefited from MDLBEAST’s audiences- travel, accommodation, and entertainment.
Creating Over 18,000 jobs.
Supporting 1125 businesses.
Showcasing KSA as a pivotal global acclaim and instilling pride worldwide.
MDLBEAST, the leading Saudi music entertainment company, has released its 2023 Socio-Economic Impact Report, underscoring its significant role in advancing Vision 2030. The report reveals that the direct and indirect impact of MDLBEAST contributed in total SAR 1.45 billion to the local economy, supported 1125 businesses, and created over 18,000 job opportunities in 2023. The impact stems from the increasing spending of event visitors and was achieved without an increase in MDLBEAST’s expenditure, achieving benefits for three main economic sectors: travel, accommodation, and entertainment.
By fostering economic growth and cultural development, MDLBEAST is helping to position Saudi Arabia as a global leader in the creative economy and music industry, showcasing KSA as a pivotal global acclaim and instilling pride worldwide.
Ramadan Alharatani, CEO of MDLBEAST, commented, “At MDLBEAST, we are committed to driving impact and inspiring change across Saudi Arabia and the region. Our work goes beyond music—it’s about creating jobs, supporting local businesses, and aligning with the Vision 2030 objectives. By empowering local talent and fostering a creative economy, we are proud to contribute to Saudi Arabia’s transformation as a global hub for culture, music, and innovation.”
As per the study, MDLBEAST is not only reshaping the local and regional music industry but also helping to positively influence how the global community views the image of Saudi Arabia by breaking stereotypes about the Kingdom and showcasing cultural richness through its events and festivals to global audiences.
As indicated in the report, by attracting international audiences, showcasing Saudi culture, and promoting cultural exchange, MDLBEAST is a key player in Saudi Arabia’s Vision 2030 ambitions to become a thriving global tourism and music entertainment hub.
Key Findings from the MDLBEAST 2023 Impact Report:
Supporting Local Businesses and Artists: In 2023, MDLBEAST spent 60% of its funds locally, with 90% of that amount benefiting Saudi suppliers, giving back to the Saudi economy. The company supported 1125 businesses in 2023, empowering the local economy and fueling growth.
Creating Jobs in Saudi Arabia: MDLBEAST created over 18,000 job opportunities, including full-time jobs and part-time and temporary positions, significantly contributing to employment across the Kingdom.
Economic Boost and Visitor Spending: MDLBEAST’s events contributed SAR 1.45 billion to the local economy in 2023, primarily benefiting travel (39%), entertainment (17%), and accommodation (16%).
Advancing Vision 2030 Through Cultural and Economic Development
MDLBEAST is actively contributing to the Saudi Vision 2030, which aims to diversify Saudi Arabia’s economy and enhance its cultural offerings. By driving 26% of household spending on cultural and entertainment activities within the Kingdom, MDLBEAST’s events are at the heart of efforts to create a thriving creative economy.
MDLBEAST’s commitment to empowering Saudi entrepreneurs is equally impactful, helping retain SAR 131 million in the local economy as 72% of Saudi residents chose to stay in the Kingdom for entertainment rather than travel abroad during MDLBEAST events.
Empowering Saudi Talent and Entrepreneurs
‘Nurturing local talent’ emerges as a top-3 impact driver in 2023, through talent discovery initiatives such as XPERFORM and Storm Shaker, alongside education-driven initiatives like BEAST Education, XCHANGE, and Artist Management Bootcamp.
MDLBEAST is committed to growing Saudi Arabia’s music ecosystem by creating opportunities for local talent. In 2023, the company signed over 125 local artists, reflecting a 25% growth from the previous year. Through initiatives like XP Music Futures and its artist development programs, MDLBEAST is positioning Saudi artists on a global stage, while also driving entrepreneurship in the music, hospitality, and creative sectors.
Driving Social Change and Empowering Women in Music
The report revealed that MDLBEAST continues to champion social change by empowering women in the music industry. The company’s mentorship programs, inclusive spaces, and advocacy initiatives provide greater representation and opportunities for women in the creative field.
As per the findings of the report, 54% of people noted that MDLBEAST greatly encourages women’s participation in the music industry.
“MDLBEAST, as a catalyst in the music industry, continues to shape the landscape and generates a positive impact across various facets of the local Saudi society in 2023. Key stakeholders within the KSA music industry recognize MDLBEAST’s positive impacts, benefiting artists, individuals, and businesses alike across areas, such as national vibrancy, empowering businesses, entrepreneurship, nurturing local talent, expanding career horizons, and empowering women in the music industry”, Alharatani explained.
By encouraging creativity and providing career development opportunities, MDLBEAST is also inspiring students to pursue careers in the music and entertainment industries, helping build a sustainable creative future for Saudi Arabia.
Positioning Saudi Arabia as a Global Music and Tourism Destination
Drawing attention from international media, tourists, and music industry professionals worldwide, MDLBEAST’s events have the power to create ripples that extend far beyond local borders.
The global exposure garnered by MDLBEAST’s events is invaluable, serving as a catalyst for shaping a positive perception of the nation on an international scale.  In 2023, the primary catalyst for changing overall global perception about KSA is the “positioning of Saudi Arabia as a music destination” (46%), followed by “positioning
KSA as a tourism destination” (27%) and “positioning KSA as a business/ employment destination” (27%).
“As we look ahead, our focus remains on expanding opportunities for local talent and strengthening Saudi Arabia’s presence on the global cultural stage. We are excited to continue pushing boundaries, creating world-class music experiences, and playing our part in shaping the Kingdom’s vibrant future. With each new festival, initiative, and partnership, we’re not just building events—we’re building a legacy that will inspire generations to come.”, Alharatani added.
MDLBEAST initiated its first socio-economic Impact in 2022 and aimed to measure it again in 2023 with a commitment to driving more effective collaboration of the business with the community and the government in Saudi Arabia,  and promoting the growth of the music industry in the region and change the music scene in Saudi Arabia through events and investments.
The study, issued by MDLBEAST Foundation this year, conducted interviews with thousands of music pros, event attendees, and entrepreneurs on Soundstorm, Balad Beast, and XP Music Futures

Continue Reading
Click to comment

Leave a Reply

لن يتم نشر عنوان بريدك الإلكتروني. الحقول الإلزامية مشار إليها بـ *

-

Al-Safa Group Opens the Newest VERO MODA Store in Saudi Arabia

Published

on

By

Al-Safa Group has announced the official opening of a new VERO MODA boutique in Riyadh.
Located in Cenomi Al Nakheel Mall, the store marks an important milestone for VERO MODA, offering customers an immersive shopping experience that reflects the Danish brand’s philosophy: delivering high-quality fashion at accessible prices, with modern, comfortable designs that celebrate women’s confidence and elegance. With the new store, VERO MODA now spans three locations across the Kingdom: two in Riyadh at Al Nakheel Mall and Al Qasr Mall and one in Jeddah at The Village Mall.
The ribbon-cutting ceremony took place on Wednesday, 21 May, and was attended by Mr. Amro Al Swayeh, Board Member and Chief Executive Officer – Retail Division, Al-Safa Group and Mr. Anshuman Anand, Chief Executive Officer, Al-Safa Brands, as well as distinguished guests, media representatives, and social media influencers.
“We are thrilled to open this new branch in Cenomi Al Nakheel Mall, a vibrant market with a customer base that values contemporary style and quality,” said Mr. Al-Swaih. “The store allows us to move even closer to our customers and deliver a unique, enjoyable shopping experience. This opening is more than just a new location; it is a celebration of the confident, modern woman. We look forward to welcoming everyone and showcasing our latest collections, which reflect global fashion trends while staying true to VERO MODA’s distinctive style.”
Mr. AlSwayeh reaffirmed Al-Safa Group’s commitment to delivering exceptional value through its portfolio of exclusive brands. “Our labels embody our dedication to quality and excellence, thoughtfully designed to meet the diverse needs of our valued customers. Innovation drives our growth, and we continually introduce products that align with the latest trends and the highest standards,” he added.
Founded in 1987, VERO MODA quickly became one of Europe’s leading women’s fashion brands, renowned for its wide range of on-trend apparel, spanning relaxed casualwear to standout dresses and evening pieces, along with accessories and footwear that complete the look.
The new store features VERO MODA’s latest collections of elegant, high-quality garments curated to suit every taste. With carefully selected assortments and personalised service, customers can expect an inspiring, effortless shopping experience.

Continue Reading

-

Makarem Honors Its Partners in Success from Leading Travel Agencies To Strengthen Its Leadership in Spiritual Hospitality

Published

on

By

Makarem Hotels, a leading Saudi brand specializing in spiritual hospitality, celebrated its valued travel and tourism partners in a distinguished gathering held at Makarem Ajyad Hotel in Makkah for their role in supporting Makarem’s continued leadership and excellence. The event brought together more than 100 guests, including senior representatives from the Kingdom’s most prominent travel agencies.

The recognition underscored the significant role of travel and tourism partners in helping Makarem deliver a seamless and spiritually enriching experience of visiting the Holy Cities, reinforcing Makarem’s position as a premier provider of spiritual hospitality services in Makkah and Madinah.

Amr Al Sunari, Regional General Manager for Makarem Makkah & Dur Hospitality for Hajj at Taiba Investments, commented: “At Makarem, we firmly believe that our partners are integral to our journey of success. This gathering reflects our deep appreciation for their collaboration and marks a key step in strengthening our partnerships as we present our renewed vision for the future of spiritual hospitality”.

The guests included several of Makarem’s most prominent partners from leading local travel agencies, reflecting the strong collaborative partnerships built on mutual trust and shared success.

Opened with a warm welcome reception, Makarem embodied the values of generosity and graciousness. Guests were then treated to an exclusive screening of the brand’s new identity film, “A Journey to the Origins.” The film showcased a refreshed visual identity and future-forward vision that blend authenticity with innovation while staying true to Makarem’s spiritual hospitality roots.

A key highlight of the recognition party was a premium lunch at Zamzam Restaurant, one of Makarem Ajyad’s culinary landmarks, where a curated selection of oriental and international dishes highlighted the brand’s commitment to exceptional hospitality and service standards.

The gathering concluded in an engaging atmosphere that fostered idea exchange and strengthened relationships, a reflection of Makarem’s ongoing commitment to building sustainable strategic partnerships founded on trust and mutual respect. It also underscores the brand’s continuous advancement in the spiritual hospitality by delivering exceptional guest experiences that meet the needs of pilgrims, while aligning with Vision 2030’s goal of positioning the Kingdom as a global tourism destination and enhancing the quality of services provided.

Makarem is one of the hospitality brands under Taiba Investments. Taiba manages currently over 7,700 hotel rooms across the Kingdom and is actively pursuing strategic partnerships with leading global brands. This effort aims to enhance Saudi Arabia’s capacity to attract visitors from around the world and solidify its position as one of the world’s premier tourism destinations.

Continue Reading

-

Saudi Tourism Launches Summer 2025 Program: ‘Colour Your Summer’

Published

on

By

His Excellency Mr. Ahmed Al-Khateeb, Minister of Tourism and Chairman of the Board of the Saudi Tourism Authority, launched the “Saudi Summer” program under the theme “Colour Your Summer” at a workshop event organized by the Saudi Tourism Authority. The event brought together over 120 partners from across the Saudi tourism ecosystem, including representatives from the public and private sectors. The workshop enhanced collaboration across the Saudi tourism ecosystem for the upcoming summer season, unifying efforts to achieve the program’s goals and maximizing its economic and tourism impact.
The Saudi Summer program runs from May to September 2025 and offers six distinct destinations from the moderate-climate coastal escapes of Jeddah and the Red Sea to the cool, scenic highlands of Taif, Al-Baha, and Aseer. Key event highlights include the Esports World Cup (EWC) in Riyadh from July to August, and the dynamic Jeddah and Aseer Seasons, packed with diverse activities and promotions.
His Excellency Mr. Ahmed Al-Khateeb, Minister of Tourism and Chairman of the Board of the Saudi Tourism Authority, said: “Bringing together our partners each year through this workshop is a testament to our shared commitment to shaping the future of the Saudi tourism industry. This year, we are encouraged to see the private sector contributing over SAR 300 million in preparation for what promises to be an incredible 2025 summer season. With its rich culture and breathtaking diversity, Saudi’s destinations continue to inspire travelers from around the world while fueling a dynamic domestic tourism scene.”
He added: “The summer season is more than just a busy period; it is a chance for the tourism sector to reach new heights and deliver extraordinary results. It is an opportunity to embrace innovation, seize growth, and make a lasting impact. This year, we are aiming to welcome over 41 million visitors from 18 countries, as well as to achieve SAR 73 billion in overall tourism spending. These numbers reflect Saudi’s growing reputation as a world-class destination, offering unforgettable experiences all year long.”
Detailing the scale and collaborative efforts behind the Saudi Summer 2025 program, Fahd Hamidaddin, CEO of the Saudi Tourism Authority, said: “Saudi is transforming the way the world views summer travel. In partnership with over 120 stakeholders, this summer will unveil more than 600 unique tourism products and experiences and over 250 special offers. From the pristine islands of Shebara and Umhat along the Saudi Red Sea, iconic new luxury resorts like St. Regis and Desert Rock, and five stunning new beaches in Jeddah, alongside the refreshing mountain retreats of Aseer, Taif, and Al-Baha with their unique charm and diverse activities – Saudi is transforming every visit into a vibrant highlight reel of summer.
“To ensure seamless travel, we are enhancing air connectivity with over one million additional airline seats to key summer destinations. And with the much-anticipated return of Aseer Season in an exciting new format, this summer promises to be unlike any other, a celebration of Saudi’s natural beauty, cultural richness, cool climate, and boundless ambition.”

Continue Reading
Advertisement

Trending