Inside Saudi Arabia’s new sports strategy: World Cup 2034, Qiddiya and Esports

Saudi Arabia’s Public Investment Fund (PIF) is restructuring its sports investments, ending support for LIV Golf and abandoning projects like the Trojena ski resort and the Saudi Masters snooker tournament. The PIF also sold its 70% stake in Al Hilal and signaled a shift toward domestic investments as part of its 2026-2030 strategy, though sport remains a minor focus under Vision 2030. The move aligns with Saudi Arabia’s bid to host the 2034 FIFA World Cup, requiring 11 new stadiums, renovations to four existing venues, and extensive infrastructure development. The tournament is seen as pivotal for the kingdom’s global image and economic diversification, prompting a reassessment of spending priorities. Experts like Professor Simon Chadwick, a sports economist, argue the cuts reflect fiscal discipline ahead of the World Cup’s massive logistical demands. With global attention set on 2034, Saudi Arabia is prioritizing projects that deliver tangible returns, such as stadiums and transport networks, over unprofitable ventures like LIV Golf. The PIF’s 2026-2030 plan, led by governor Yasir Al Rumayyan, emphasizes domestic investments while reducing overseas spending. Sport’s role in Vision 2030 is limited, expected to contribute just 3% to GDP, but the World Cup remains a cornerstone of Saudi Arabia’s long-term strategy. An organizing committee for the World Cup will be appointed later this year, signaling continued commitment despite recent pullbacks. The shift underscores Saudi Arabia’s focus on sustainable growth over extravagant, short-term sports investments.