In a bid to boost tourism and diversify the economy away from oil, Abu Dhabi has launched a new $163.4 million “mega events” fund to finance potential global entertainment partners.

Abu Dhabi is already home to a number of iconic theme parks and waterparks, including Ferrari World, Warner Bros World and Yas Waterworld.

However, the UAE’s capital has set a goal to “turn the emirate into the world’s best destination for leisure, business, sports and events, and to offer new experiences to its residents.”

The launch of the ‘mega events fund’ is designed to start developing entertainment facilities, including the city’s theme parks and waterparks, so they will attract big ticket events to the region.

As Saeed Al Saeed, director of destination marketing at the Department of Culture and Tourism, comments:

“Abu Dhabi, as a city, is trying to expand its offering in terms of mega events. We have recently announced a Dh600-million (fund) just to bring major events into the city. We are trying to get all such events that will not only appeal to our community but will also draw tourists to the city.

“There will be massive campaigns to promote not just an event but Abu Dhabi as a city to a wider audience,” Al Saeed added.

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