Why Saudi Arabia’s Economic Woes Just Keep Getting Worse

MBS has been trying to shift the Saudi economy away from its dependency on oil with his Vision 2030 project, but things don't appear to be going to plan. So in this video we'll take a look at their economic difficulties and what this means for the future.

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[TLDRnewsGLOBAL]

As some commenters have pointed out, this is indeed a re-upload - the first version had a handful of typo-related errors in, so we took it down and re-uploaded. Thanks for watching all!

[brp]

Maybe stop paying washed footballers $800k per week?

[noir-jaune]

Who knows perhaps focusing on vanity megaprojects to attract the rich is bonkers compared to trying to develop infrastructure to support your own people.

[TimothyEbersohn]

MFW pointless dystopian megaprojects don't generate long-term economic growth

[AlanJeffery-yf]

It's really simple - the "economy" isn't an economy - it's a petrol station. And they keep buying stuff that doesn't help them build one.

[PeterSedesse]

The funny part is when they act like smart businessmen... nah, you just had the jackpot under your feet the last 60 years. The real bad news for them is that Opec+ now produces less than 50% of the world's oil production. So they can no longer just cut production and expect prices to rise.

[thepatsnumberfan]

Spending all that money on Ronaldo isn’t working?

[IsYitzach]

Saudi Arabia is running into the same problem that West Virginia ran into a few decades ago. WV was/is dependent on coal and the coal market has collapsed with the change to natural gas and renewables. And it doesn't employ as many people as it once did the mechanization of the mining operation. WV hasn't been able to pivot to something new since and is hurting deeply. Saudi Arabia can see the changes coming and is trying to avoid the same fate. The problem is that they have the same issue that WV has. WV is almost entirely made up of unusable mountainous land. Saudi Arabia is almost entirely made up of unusable desert land.

[Ivan-qflj]

Saudi arabia is like:
Help me manage my oil money

Government function - $200M
Army - $80M
100 km straight line megacity - $1, 3T

[jesdakosol]

The difference between Saudi vs. Norway is ….Norway invested for their people. Saudi?? investing on for the rich. Just for the Food for thought!

[paulomartins]

Based on the stock footage, they can rule out the fashion industry... 😂

[CaptainBlitz]

I love how letting women drive is considered "liberal by Saudi standards" 💀

[JS-jhcy]

Stop building the damn wall line to nowhere unless you want to reach bankruptcy 😅

[VenomSnakee]

They made too many vanity projects and country-advertising instead of just purely investing in diversifying their economy.

[michaeloshea]

Saudi Arabia is one of the last places I would
consider as a tourist destination, regardless of what they build.

[MemekingJag]

"My grandfather rode a camel. My father drove a car. I fly in jet planes. My son will drive a car. My grandson will ride a camel." - Sheikh Ahmed Zaki Yamani

the princelings don't understand that money can't turn a barren desert into an oasis, even if that's literally why they're buying groundwater from US property. The Gulf States are a shining beacon of decadence, corruption and cruelty that I won't miss once they return beneath the sand dunes.

[nicolasbenson]

In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.

[ichifish]

I don't think I'll be the only one here experiencing deep schadenfreude. Stupid money does stupid things: sports teams, impossible megaprojects, luxury resorts. They could have been using their wealth to improve the lives of their citizens. These assholes deserve to lose every penny.

[this_is_patrick]

3:22 This is why dictatorships suck.

Everyone becomes a yes-man in fear of (best case) being dismissed from their work and disappearing into obscurity; or (worst case) actually disappearing, never to be heard from again.

[SYAlwashmi]

A clip that lacks credibility and facts. When the Saudi vision began in 2016, its economy was approximately 700 billion. Today, we are the first Arab country to reach 1 trillion, and we will exceed this number. Mohammed bin Salman, the Saudi leader, will definitely change the country. He has a clear vision and aspires for the economy to one day reach the top 10 economies in the world. Thank you, Mohammed bin Salman.