Quick, waste even more money on dumb tourist attractions and useless money pits! What do you mean it isn't working?
Its pretty funny how consulting companies like McKenzie scammed them with the NEOM project. Must be nice to start a consulting business there.
That's the thing, they aren't really diversifying their economy. They are just doing a lot of vanity project and call it "diversifying". Even planning their "infrastructure", they think 'Americans', which usually has the worst urban planning globally.
karma they had unlimited money and they wasted it on stupid shit
This is why democracy and boring politics are always the best in terms of uncertainty. The post covid era is the most uncertain ever you really need policy makers with cool heads and steady hands not autocrats with no checks and balances.
"My grandfather rode a camel, my father rode a car, I ride a plane, and my son will ride a camel." -A guy I'm remembering incorrectly.
Recently, when looking at the USA, China, Asia in general and now Saudi Arabia, i end up looking back at the EU and the old phrase "Slow is steady, steady is smooth, smooth is fast" comes to mind more and more often.
This is what eventually happens with people, "when they become flush with cash, they tend to throw money at the dumbest things", then later face the consequences.
If oil wasn't enough with such a low population and cheap imported labour, don't know what a country needs for staying afloat.
I love hearing about $100 a barrel, and then reading all the anti renewable rhetoric from the 'patriotism' and 'sovereignty' focused right wing
Most of these wealthy Gulf countries rely on foreign workers to build their infrastructure and work in the service sectors, instead of using all that money to educate their citizens so they can do the work and have the expertise. they should’ve learned from South Korea that invested its money in the people.
There are so many more productive things to do with Saudi money. Build desalination plants, create a plastics manufacturing industry, build up the defense industry, even a space program is more useful than neom and the line
Quick, build more insane theme parks and skyscrapers! ...why isnt it working!?
Sports-washing getting too costly
Saudi Football League, spent over 4 billion in less than 2 years and viewership is still abysmal and most of the players are now realising the money isnt worth it 😂
I'm from Saudi Arabia, whether the economy crashes or not, it doesn't concern me, I'm unemployed and poor anyways.
When you spent 10% of your GDP on Cristiano Ronaldo.
You can't run an economy of millions of people just by owning other peoples stuff. You can't attract top talent for r and d, whilst being culturally restrictive. The top talent will always choose open and fun places to live.
Nothing of Value was lost
@vondondolo1582