Until March 31 the Saudi Public Investment Fund (PIF) announced investments worth between $7 and $8bln
When the going gets tough the tough go shopping is an old saying that we have all used on occasion, especially the fairer sex. Nowhere is that truer than looking at the acquisitions of various sovereign wealth funds (SWF). All have looked at investment opportunities amid the dramatic decline of equity markets and economies due to the coronavirus crisis.
Other investments also make sense in light of Vision 2030. The PIF invested just over $2 billion in Carnival Cruises, Marriott International, Walt Disney, Live Nation Entertainment, Starbucks and Booking. com. These investments also have to be seen against the backdrop of Vision 2030 with its aim to develop tourism as a major contributor to the economy. Giga-projects like NEOM and Qiddiya require access to entertainment and hospitality expertise too.
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