Saudi Arabia and France have signed a memorandum of understanding for a massive $7 billion (€6 billion) investment to develop three theme parks near Paris, marking one of the largest entertainment-focused foreign investments in France in recent years. The agreement was announced during Saudi Crown Prince Mohammed bin Salman’s official visit to France and has been described by French officials as a transformative project for tourism, employment, and bilateral economic ties.
The ambitious Saudi Arabia Paris Theme Park Project will be developed near Cergy-Pontoise, approximately 30 kilometers northwest of Paris. French President Emmanuel Macron called the initiative an “unprecedented announcement,” comparing its potential impact to that of Disneyland Paris.
Three Theme Parks Planned Near Paris
According to the contract, the investment is to be used for constructing three different amusement parks. Even though information on all three attractions is not available currently, it was made clear that at least one of the amusement parks will definitely be themed after the Japanese manga and anime culture, especially the Dragon Ball series.
The project will be managed and funded by Qiddiya, the Saudi entertainment and investment company founded by Saudi Arabia’s Public Investment Fund. The company has emerged as a key player in the quest of Saudi Arabia to break into the international tourism and entertainment industry under its Vision 2030 policy.
The Saudi Arabia Paris Theme Park Project is expected to become one of Europe’s largest entertainment developments, though officials have not yet announced a timeline for completion. Construction is anticipated to take several years.
Expected to Generate Thousands of Jobs
Some of the key economic gains of this project include job creation. The French government expects that the project will create about 22,000 jobs directly, more than those created by Disneyland Paris.
The project is likely to have positive effects on local businesses, tourists from other nations, and the economy of the Île-de-France region. It is anticipated that the project might turn out to be a great entertainment center that can draw visitors from all over Europe and elsewhere.
For France, the Saudi Arabia Paris Theme Park Project also serves as a strong signal that the country continues to attract large-scale foreign investments despite global economic uncertainties.
Shared Passion Sparked the Idea
One of the intriguing features of how the project came about relates to the personal hobbies of the two leaders. As was reported by the advisers of President Macron, the project originated from a conversation between Macron and the Crown Prince of Saudi Arabia, Mohammed bin Salman, who found that they both had a common hobby in manga comics, especially Dragon Ball Z.
As French authorities stated, the talks that led to this project started at Macron’s visit to Saudi Arabia and ended up becoming an investment project of significant scale.
Part of Saudi Arabia’s Vision 2030 Strategy
The Saudi Arabia Paris Theme Park Project is consistent with the vision of 2030 of the Kingdom, which is focused on reducing dependence on revenues from oil through huge investments in tourism, culture, sports, and entertainment. The country has already initiated a number of impressive projects related to leisure within the Kingdom, while this new project will serve as an addition to its presence in the global market.
Saudi Arabia is sending signals about its willingness to become one of the major entertainers internationally and at the same time strengthen economic and cultural relations with France.
Looking Ahead
The Saudi Arabia Paris Theme Park Project is not just a real estate and tourism endeavor. It underscores the emerging economic connections between France and Saudi Arabia, demonstrates the ambitions of the Kingdom in the field of international entertainment industry, and has the potential of becoming a defining factor in the tourism scene in Paris.
As the project entails an investment of $7 billion, 22,000 jobs and world class attractions, it may turn out to be one of the major tourist spots in Europe in the next decade. With the project now entering its implementation phase, the industry watchers are eager to witness the evolution of this project into a landmark accomplishment.