Why I think Saudi Arabia is modernizing itself now

Why I think Saudi Arabia is modernizing itself right now

12/9/2019

Saudi Arabia is open for business. That was my impression of the Crown Prince's reforms on women's liberties and the political shakedown on ruling family members and peers in 2018.

Oil reserves don't last forever; they're depletable. I used to say that Saudi Arabia's oil money (profits) won't last; that the kingdom will have to diversify its economy.

Was Riyadh now appealing to the prospect of tourism and foreign direct investment?

It wasn't until I read The Green New Deal (Jeremy Rifkin) that I considered not only the supply side of oil. Rifkin talks about aggregated energy efficiency, or the energy bang for your buck). The increasing efficiency of renewable energy will place it in greater demand year after year.

A Saudi woman taking a selfie at the auto show

Woman taking selfie at car show (© REUTERS | Reem Baeshen)

Jubalyn ExWilliams lives in Pennsylvania (United States). You can find her writings and commentaries, including "Why I think Saudi Arabia is modernizing itself now," at landturn.com/blog.

Related: Saudi Arabia's smart city an example of my impression of its initial cultural reforms (2024)
Related: Amid sanctions, Qatar's boost in oil production indicative of its oil dependence (2019)
Related: One way COVID could force economic depression on African nations (2020)
Related: "The Green New Deal" (Rifkin) (2019)
Related: Why oil companies in Africa could concede to reforestation (2019)
Related: Former astronaut trainee, 82, to fulfill dream aboard commercial space flight (2021)

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1 Comment

Jubalyn ExWilliams link

6/5/2024 15:47:02

It turns out that NEOM is one Saudi project for the "tourism and foreign direct investment." Above, I noted that the 2018 "reforms on women's liberties and... political shakedown on ruling family members" gave me the impression that the Crown Prince wanted to modernize Saudi Arabia's image for the global future of its economy.

In that regard, I can't imagine that Dubai -- a renown lifestyle destination there on the Arabian Peninsula -- was not an inspiration for the concept of NEOM's built environment.

According to neom.com, it'll be, "The land of the future, where the greatest minds and best talents are empowered to embody pioneering ideas and exceed boundaries in a world inspired by imagination."

And in April, BUSINESS INSIDER reported that the country's NW enclave plans to have "glow-in-the-dark beaches, ski slopes, an artificial moon, robot butlers, and flying taxis."

That reminds me of spectacles like the MGM Grand and the Sphinx and pyramid hotels that amused me during family trips to Vegas growing up.

NEOM's vision statement above is well-stated though. Very well-stated.

Earlier this year, allafrica.com released a report about Waterfall City in South Africa. I haven't looked much further into the planned city of "Connection, Commerce, Care, and Community," but it is, like its Saudi peer, a smart city. However, Waterfall City is a functioning locale with residents; national; and multinational tenants. NEOM seems much larger in scale and with some features of a resort, but the project appears to be mostly in its planning-and-marketing phase right now.

It's further evident that Saudi Arabia is active in diversifying its image and economy with its winning bid to host the WTA finals, 2024-2026. At $15.25 million, this year's prize will set a record for the women's sport.

Why I think Saudi Arabia is modernizing itself right now

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