The inaugural Cultural Investment Conference in Riyadh held at the end of last month under the patronage of HRH Crown Prince Mohammed bin Salman was not just a huge success, but also an important milestone in how to look at cultural policy. I would go as far as to say it was a game-changer, and both the conference and the themes it explored will grow in importance in years to come.

I served as the UK’s culture minister for six years, and I often struggled to get my ministerial colleagues to understand how important culture is for government. Culture is not just about the general well-being of our society; it could and should be a vital part of our economy, and central to economic growth.

It was clear from the conference that Saudi Arabia’s government understands this point. The opening session of the event, which attracted 1,500 high-level delegates from across the globe, included not just HH Prince Badr bin Abdullah Al Saud, the highly regarded culture minister, but also the two senior ministers for Investment and Economy & Planning, HE Khalid bin Abdulaziz Al-Falih and HE Faisal bin Fadhil Alibrahim.

These two Ministers not only made clear that they “got” culture, with HE Khalid Al-Falih remarking that every country needed its soul, but also understood that culture is a key component of economic growth in the Kingdom. This opening session was a demonstration of joined-up government which is not often found in other countries.

Most culture ministries do not consider enough the business side of culture, and nor do they get the attention and engagement of senior economic ministers. This is what made the conference feel different and helped highlight Saudi Arabia’s unique approach. Museums, performing arts centres and other cultural institutions are vital to making cities and towns great places to live, but we do not spend enough time thinking about how these venues can pay their way and contribute to the economy.

I was particularly pleased to appear on a panel with Hanouf Houthan, who is responsible for the innovation department at the Saudi Ministry of Culture. The ministry is just seven years old and it is great to see such a department included within its thinking.

It is odd that we have seen more innovation, thanks to technology, in how we hail a cab or book hotel accommodation, than we have in many major international museums and arts venues.

As Saudi Arabia gets on with building world-class infrastructure as part of Vision 2030, the Ministry of Culture can bring a startup approach to culture. An entrepreneurial mindset prevails – for example, the Cultural Development Fund, established in 2021, provides pathways to sustainable finance for all the cultural sectors overseen by the ministry.

There is a clear emphasis on building a comprehensive ecosystem for the creative economy to meet ambitious GDP growth targets. This approach breaks down into three interconnected priorities: firstly, servicing the growing demand for content by producing world-class material that can compete globally; secondly, investing in training and strengthening international networks to develop local talent; and thirdly, driving investment that will inevitably be global in nature as Saudi Arabia’s creative economy moves into its next phase – transitioning from strategy to delivery.

The energy in Saudi Arabia and its focus on culture is remarkable, from the Royal Commission for AlUla’s commitment to the arts to the bold innovation driving Qiddiya, the global culture, sports and entertainment hub in the making. Together, these projects embody the breadth and ambition of the Kingdom’s creative vision. This is an exciting time to be engaging in culture, and Saudi Arabia is one of the most exciting cultural ecosystems in the world.

Lord Ed Vaizey is Senior Broadcaster at Inside Saudi and will be hosting our pioneering Saudi business, technology and culture-focused podcast and talk show, which we are launching in November. Stay tuned for updates.