Investment Ministry supports launch of new health & fitness event ‘FIBO Arabia'
The Ministry of Investment for Saudi Arabia and its Sport Sector Team have signed an investment agreement with RX Arabia to support the launch of FIBO Arabia in the Kingdom. The annual show brings together key players from the health, fitness, and wellness sectors to create a platform for innovations, investments, and trends tailored to an active lifestyle.
The event will debut at the Riyadh Front Exhibition and Conference Center from Oct. 1-3.
Organized by RX, a global leader in events and exhibitions, and under the theme for a strong and healthy society, FIBO Arabia is already 60 percent sold out following a successful sales launch at FIBO's flagship trade show in Cologne, Germany last month. There, 1,200 exhibitors and partners from 60 nations and 154,748 visitors from 129 countries were welcomed.
The launch of FIBO Arabia coincides with the Saudi government's significant support for investing in the country's sports sector as part of the Kingdom's Vision 2030 strategy to diversify its economy. The government aims to increase sports spending by $22 billion by 2030, encompassing sports clubs, academies, sportswear and equipment, and sports facilities.
Vasyl Zhygalo, managing director, Middle East and emerging markets, RX: 'We are honored that the Ministry of Investment for Saudi Arabia is supporting the launch of FIBO Arabia. This underscores the importance of health and fitness to the Saudi Arabian government and highlights its investment-friendly attitude toward overseas entrepreneurs and progressive companies that want to invest in their health and fitness sector.'
The country's focus on becoming a global sports hub is underscored by the announcement of major events set to take place in Saudi Arabia, including the 2034 FIFA World Cup, 2027 AFC Asian Cup, and the 2029 Asian Winter Games.
Furthermore, according to Gymnation, which operates a chain of fitness centers in Saudi Arabia and the UAE, the Saudi fitness market is expected to grow at a compound annual growth rate of 9.7 percent between now and 2032 when the health and fitness market is projected to be worth $2.28 billion.
Basim K. Ibrahim, sport sector investment development director, at the ministry added: 'FIBO Arabia represents a pivotal platform in advancing Saudi Arabia's Vision 2030 goals by promoting a culture of fitness and wellness while also highlighting the Kingdom's growing potential as a hub for investment within this sector. With increasing emphasis on exercise, sports, and well-being across the Kingdom, the event provides a vital opportunity for international and local brands to showcase the latest innovations and technologies in the industry.'
We look forward to the positive impact FIBO Arabia will have on our communities and the exciting prospects it will unlock for the future.'
Over the course of three dynamic days, FIBO Arabia will offer unparalleled opportunities for building businesses, networking, and educating at the highest level.
Professional development will be a key focus of the show, with FIBO Arabia hosting a series of expert-led workshops, seminars, and keynote sessions.
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