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Edited by SKEP

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10 minutes ago, SKEP said:

They want to do so by making Saudi Arabia World Investment Center. Kind of like a bigger better Dubai.  Have they liked at Dubai recently ?  Hosing down 27% since 2014.  Halted construction of news airport. Need to allow increased foreign investment in Banks.  

Is Capital exiting the Middle East as SAUDIS want to attract more to Middle East ?

Only way they have an outside chance of even getting 1/3 of the way there is if MBS makes massive reforms bring their 7th CENTURY doctrine into the 21st century in short order.

What are your thoughts ?

A starting point to having a dynamic economy is having a population willing to work. When I was there (2010-12) they certainly didn't and my former colleagues still there tell me nothing has changed. 

The Emirates can get away with this because the resident Emirates are a small % of the population but in Saudi you have 21 million people to support. 

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(edited)

3 minutes ago, NickW said:

A starting point to having a dynamic economy is having a population willing to work. When I was there (2010-12) they certainly didn't and my former colleagues still there tell me nothing has changed. 

The Emirates can get away with this because the resident Emirates are a small % of the population but in Saudi you have 21 million people to support. 

Nick

Good point.  Over half the population is under 30 years old and on the dole

What do you think SaudiArabia looks like in 5 years?

Edited by SKEP

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Just now, SKEP said:

Nick

What do you think SaudiArabia looks like in 5 years?

Pretty much the same although the cracks will be starting to show. 

When I was there, there was a quiet panic in exploration as they simply are not finding any more oil in meaningful quantities. There have found moderate quantities of extra gas which will keep supply maintained but nothing that will turn them into the next Qatar. 

The levels of disorganisation even with Aramco are profound. Their solar car park project at Al Midra (Dhahran) never even got connected to the grid. Most expensive car shades ever....

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