Global investors see the 2034 FIFA World Cup event as a pivotal signal for the Kingdom’s investment landscape, Managing Partner for Monitor Deloitte Hassan Malik told EnterpriseAM.

The anticipated edition will place the kingdom at the center of global business attention, Malik said, creating an international platform to showcase growth and attract capital. FDI is expected to grow steadily in the decade ahead as investors see tangible opportunities, playing into the target to secure USD 100 bn in FDI inflows by 2030.

What investors will watch for

Foreign investors will watch market conditions closely. Capability, regulatory clarity, and the transparency of procurement processes will be monitored closely during the preparation phase. Investors are looking for predictable timelines for permits and licenses, efficient dispute resolution, and clear rules for repatriating profits. Saudi could use the looming deadline as a catalyst for accelerating regulatory and business reforms, by streamlining regulations and introducing incentives to boost competitiveness.

Sustainability will also be under surveillance, as ESG commitments are becoming more and more crucial to global investment decisions, Malik said.

The money is already moving: We are seeing the PIF step in to derisk the early stages, creating the track record foreign investors need to see. Major awards are already flowing, including the expansion of the King Fahd Sports City (Saudi Binladin Group), the USD 1.8 bn Jeddah Central Development Stadium (Chinese-Saudi consortium), and the Aramco Stadium in Al Khobar (Besix-Al Bawani).

Beyond the mega-contracts, the government is trying to seed the market with entry points for foreign investors. The Sports Investment Forum recently pitched 36 potential investments, including privatization of state-owned sports assets and development of club facilities — areas where Malik suggests JVs will be essential for navigating the local regulatory landscape.

“While international companies will handle specialized projects, they typically need to partner with local firms, driving skills transfer, job creation, and long-term gains for Saudi’s private sector,” Malik said.

Lifting all the boats

The influx of foreign investment is expected to extend beyond stadiums to supporting sectors, including hospitality, retail, technology, and wider infrastructure, Malik said. Real estate, particularly mixed-use developments, and transport will also have to grow to meet rising demand, Malik added. Meanwhile, the tournament will support newer sectors like digital services, sports technology, and sustainability solutions.

It’s the years after 2034 that matter: The key challenge will be to ensure that the infrastructure and experiences developed for the World Cup also deliver long-term value, Malik said, citing Germany’s 2006 World Cup is the benchmark to follow. The strategy was to upgrade general infrastructure with a special focus on transport, which delivered value for Germany decades after the final whistle.

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