Since the first Grand Prix in 2021, Saudi Arabia has been aggressively pursuing its economic diversification strategy by investing heavily in international events such as Formula 1.

This move is part of a broader plan aimed at boosting tourism, creating jobs, and increasing the share of non-oil activities in the Kingdom's gross domestic product to 52%, representing a 20% increase since the launch of Vision 2030.

The race has been moving to Qiddiya City between 2027 and 2029, with plans to deepen investment in Formula 1 as part of a strategy to stimulate economic activity and position Saudi Arabia as a global hub for elite sports and entertainment.

International sporting platforms such as the Grand Prix in Jeddah exemplify how events are being used to stimulate tourism and highlight the Kingdom's ongoing economic transformation.