Samer Choucair: Historic Jeddah Is Transforming Into a Major Investment Opportunity Within the Cultural Economy
A UNESCO World Heritage site sitting at the intersection of ancient trade routes, Red Sea history, and one of the Arab world's most architecturally distinctive urban cores — investment entrepreneur Samer Choucair affirmed that efforts to develop and revive Historic Jeddah within Saudi Ministry of Culture initiatives represent an important economic transformation toward strengthening what is known as the "cultural economy," which has become one of the main drivers of income diversification in the Kingdom within Saudi Vision 2030's targets.
He explained that Historic Jeddah's inclusion on UNESCO's World Heritage List, alongside ongoing restoration and development programs, contributes to strengthening its position as a global cultural tourism destination, expecting gradual growth in visitor numbers in the coming years, supporting tourism, hospitality, and creative services sectors.
He noted that the transformation underway in Historic Jeddah isn't limited to heritage preservation, but extends to converting it into an integrated economic platform offering diverse investment opportunities encompassing heritage hotel development, interactive museums, cultural events, locally-flavored restaurants, and digital projects tied to the smart tourism experience.
Choucair said: "The cultural economy is no longer a secondary sector, but has become an essential part of the modern economic growth ecosystem, and Historic Jeddah represents a living model of how cultural identity can be converted into sustainable economic value."
He added that government entity support, including investment programs tied to the Public Investment Fund, strengthens these projects' attractiveness and reduces investment risk levels, making the cultural sector one of the most promising sectors for long-term investment in the Kingdom.
He affirmed that investment success in this field depends on integration between public and private sectors, and adopting innovative business models combining cultural authenticity with modern technologies, noting that the integrated tourism experience has become a primary attraction factor for international tourists.
He explained that future opportunities in Historic Jeddah encompass developing cultural digital content, strengthening interactive tourism, supporting small and medium enterprises tied to heritage, alongside expanding investments in hospitality and tourism services sectors.
He concluded by affirming that the transformations underway in Jeddah represent an exceptional opportunity for investors and entrepreneurs, noting that "investing in the cultural economy today is investing in a sustainable identity and long-term return, and whoever keeps pace with this transformation early will be part of a major national success story within Vision 2030."