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!
Typo errors and re-upload aside... You couldn't fix the very first seconds of the video that shows DUBAI (specifically, an area called Jumeirah Beach Residences) and not anywhere that's actually in Saudi?
That would also require them to not waste like hundreds of millions a year on LIV Golf and Esports World Cup and their World Cup and Olympics bids... I mean Monopoly GO! is making them a lot of cash but not enough to justify it
Who knows perhaps focusing on vanity megaprojects to attract the rich is bonkers compared to trying to develop infrastructure to support your own people.
As a person in Saudi they are developing infrastructure, literal districts are being levelled in rebuilt in many cities like Riyadh and Jeddah. Riyadh is pretty much under construction 24/7 everywhere Edit: To emphasize, Riyadh is also among the fastest growing cities, at 10th place, ahead of all Western cities and behind some South & East Asian cities.
I mean, most of their economic problems are due to the price of oil being lower than what they expected... They should thank their OPEC "allies"+Russia for that
@@AlanJeffery-y5f It's been always a petrol station and it's not gonna change overnight. Their goal is not even to change it, their goal is to make that petrol station sell hotdogs and car aromas too
exactly! they should foccus on something actually in the manufacturing sector, they have enough sun they can use it to set up somekind of industry to be able to export.
It kind of is, considering that everyone is talking about it, that was pretty much the point. What isn't working is making one of the, or if the plans were to be actually constructed by far the largest construction projects in history, having to cut it down to 10 percent of the original plans because it costs too much, having it cost too much regardless and not having a single person live there after years of building.
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.
@@alexandredesouza3692 Qatar, Ecuador and just this year Angola have all left OPEC+ I believe it was like 52%, and then when Angola left it dropped to 48%. The USA, Canada and recently Guayana have all been greatly increasing world production
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.
@@bestuan No idea what they've tried. I just got here and my report is summary of this Wendover Production video on why West Virginia is poor: th-cam.com/video/44l6f7iXGAk/w-d-xo.html. He references a report that was commissioned that says that WV is poor because it is poor (negative feedback) and mountainous.
@@makisekurisu4674 Well they haven't stopped, but it's been shortened to something like a 20th of the original length, so now it's just a pointlessly long skyscraper in the desert rather than a weird linear city.
@@makisekurisu4674 Saudi Arabia doesn't really have the right conditions for microchip production. It's an inefficient economy with a comparatively unproductive workforce. Most university graduates are women, yet women are generally consigned to a handful of fields like women's medicine and education, so the majority of their educated population isn't suited to such industries and there's still taboos surrounding female workers. Meanwhile, lower skilled workers that would be needed for logistics and basic production processes are few and far between. Saudi Arabia is relatively wealthy, so its population tends to rely on foreign workers for labour. If a microchip factory was built in Saudi Arabia, it would ironically probably employ mostly foreigners, so it makes far more sense to just build these plants elsewhere. Not to mention, the cooling required for these facilities is immense, so building it in the desert is not ideal.
The projects you're talking about ARE a way of diversifying the economy, even if the tourism sector didn't flourish they're bound to find their way out, the citizens are young and educated but yeah only time will tell
@@One-u1f Is it not obvious that given the stock footage there is little demand for innovation in fashion? And what is so bad about conveying that using humor.
Actually there no poor Saudi citizen. However, that's because they basically use the oil money to keep them happy and wealthy. Without it Saudi Arabia would be a poverty stricken nation without anything of value and a work force that has to take large breaks in working hours because of their faith. Yes, that is actually a negative to productivity and competitiveness.
@@Seeyou45 It's not actually faith.A lot of it are made up lies that are used to keep people out of politics. They are essentially bribing people money and perks to keep people spoiled and stupid. But this is a double edged sword, as the result implies. The purest Islam is like this, you've got the five pillars of Islam which you have to follow strictly, try to avoid interest and do Islamic banking.Investments are ideal. For the rest of the rules try your best is all. If you only do the 5 pillars you will still go to heaven as long as you don't specifically disbelieve the Quranic verses. You'll have sins but the good will make up for the wrongs. The thing about women can't drive and whatnot, protest is sinful are all made-up lies
"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.
That quote Was made in 70s back when Dubai was nothing more than a barren desert before it became an advanced Mega city and the envy of the middle east Keep coping the gulf is here to stay "The stone age didn't end because we ran out of stones"
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.
singapore at first lead by dictator and mr lee kwan yew also use dictatorship but he think ahead , they make singapore the heaven for investment and now you see singapore nowadays, it is not wrong for nation with many dumb people leads by dictatorship, the problem is who run the dictatorship, it is nation future is on one people hand
They're a kingdom, AKA an internationally legitimized dictatorship, so they get a different title cause dictator implies we shouldn't do business with them.
Believe it or not, but MBS and the current monarchy wants to democratize. They much rather give more power to the people rather than the Wahhabists. But there are 2 problems. A) The Wahhabists already have too much grip over the monarchy, and B) The people might also support the Wahhabists similar to what is happening in Kuwait.
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.
Bro what do their citizens dont have? No taxes free healthcare and education. Their infastructure is amazing. Its just that it cant run like that forever. You can develop infrastructure only so far before it becomes a sunk cost. Their megaprojects failed because of poor planing but the end goal was to maintain the amazing life saudi citizens live thanks to petro dollars even when petrodollars run out
@@ciroalberto397 all the jobs associated with Ronaldo and the team are the point. As pointed out in the video, SA's big issue is a sheer lack of jobs for their own people to do. Developing new industries, attracting already established industries and therefore building up a basic employment demand is literally the game. And celebrities and entertainers spur gaggles of jobs, whether it be working class like security and consumption, chefs and aides, to white collar services like coordination, management, legal, PR etc. The team being based there now means that it needs the stadium infrastructure, maintenance, and transport services and infrastructure, new hotels and housing to host fans - ticketers, pilots, drivers, airport staff, administrative workers, marketers, shop assistants, urban planners, architects, builders, electricians, plumbers, cleaners, gardeners, receptionists, etc etc.
Visiting Mecca and other historic places of the gulf would be nice if the country wasn't Saudi Arabia. Even considering Arab countries only, there's so much competition on the tourism market
It’ll change. I’m considered an apostate because I no longer consider myself a Muslim and it’s a capital punishment for most Muslim countries, but I think Saudi can change.
A government taking government money and try to artificially create an economy is probably not going to work long term. companies have to rise organically
They don't understand or don't care. The royal family cannot be held to account, they are surrounded by sycophants and yes men. Normally in a democracy or even a one-party state there is a level of accountability, they have to actually be productive or face being outsed by their peers. Even Putin is afraid that he could potentially be removed if he loses the confidence of his peers hence the shows of force.
There are certain mistakes in the video that I would like to mention: Women could work in Saudi Arabia before MBS Women could travel before MBS. The claim that MBS is trying to make the public happy by paying it well so that the "clergy" does not politically influence the people is VERY misleading and simply untrue. MBS locked up the entire "clergy" and anybody who would dare to criticize the state. One Tweet can cost you your life now due to the power of MBS. Saudi Arabia before was not like this.
excuse me you cant compare UAE and Qatar to KSA. UAE GDP half a trillion with a pop of10 million est. Qatar GDP 250 billion with a pop of 2.7 million and both have saturated tourism. KSA Gdp is 1.1 trillion with 36 million pop, wait till we saturate our tourism! qatar and UAE are small and dont have a huge pop to take care of.
Saudi women driving: OMG... SOO progressive Most Bangladesh women working in factories: HAHAHA poor backwards Muslims So money makes people look progressive not human rights
I'm in saudia arabia and everything is well better off than before and a LOT less corrupt than before , I think I will start questioning everything said in this channel
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
yea this is just western media propaganda bullshit they try to put in peoples heads and for some reason it actually works. trust me by 2030 everyone will be dying to come here in saudi 🇸🇦 .
well said! in my opinion after spending the last 12 years in Austria and visiting most of western Europe! KSA is booming in comparison. where purchasing power in Europe has declined, as well as infrastructure (health care public transportation etc, and rising crime rates, in ksa on the other hand you see Saudis are spending more time and money in their own country, local tourism has gone up, restaurants shopping malls are full, more local SME are opening. crime rates are low as is poverty, taxes are negligible having only VAT at 15% and Zaka(income tax) at 2.5% ask any Saudi and any westerner living in ksa and they will all tell you the quality of life is much better here. i think the west is jealous and annoyed that we are trying to create an economic model that the west can't replicate. i mean seriously Avg income tax in the west is 48% and lets not start with the VAT. talk about being a slave to the state, that's basically working for the state half a year for free!
Hello, I wish to correct a crucial mistake in the video made. There is an *insane* amount of focus on both investments into businesses and education. For education, there are several high-ranking, free, easy to enter, universities in Saudi Arabia. An example would be King Abdul-Aziz University. If you keep a moderate GPA, the government gives a monthly allowance to students, too, with automatic rewards for high GPA students. If the student wishes to study abroad, the government has a website with an large list of universities and majors, where there are several different types of scholarships, and easy to enter if accepted into one of the universities aboard. Not to mention, there is a huge focus on startups and business investments from both the government and private sector. I heavily advise researching your topics further please, as it is one of the largest benefits of citizens in Saudi Arabia, and saying that "education and businesses arent focused on" is a mistake, is an understatement. Another note, in regards to the alcohol shops, Alcohol is not within Saudi land if I recall correctly. There has always been alcohol in Saudi Arabia, but it has always been restricted to foreigners within gated areas, as said alcohol shop. I sense that there are a lot of topics in this video that have not been researched appropriately, and this video is an unreliable source. Thank you.
Alcohol was completely banned in Saudi Arabia. The Alcohol Shop is exclusively for foreigners to use and has only been implemented in order to stop foreign diplomats smuggling booze in diplomatic bags that customs aren't allowed to search.
100 years of oil. Multiple generations of Saudis (royal and otherwise) grew up in an environment of limitless money and oil with almost no effort. Think what that does to (a) people. They have no idea how the world works or how to do anything other than pump and sell oil. They never had to work for anything or learn anything to survive or struggle or think deeply or anything. At this point the entire country is like 3rd and 4th generation trust fund kids- only the trust fund is running out. They are so screwed.
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
I actually just bought $5000 of xAI yesterday because I felt it would start climbing. Up around $5650 already because of this recent run up. Just bought more at less than $1
@@fatdoraemon2069 it's not all desert... They've got over 600.000km² worth of mineral reserves even if there is under sand they've the money for it and it'd still be worth the investment
@@yofedstyhrega4594 "even if there is under sand they've the money for it" Not if it costs just as much or more money to extract it. Deserts are deemed inhospitable for a reason, and so far humans have been really poor at dealing with shifting dunes.
@@mrgaudy1954 The unfortunate fact of reality, in a world of Huak Tuah podcasts, crypto confidence scams and Kardashian business ventures is that projects and their marketability and initial success often boils down not to sound economics or value, but notoriety that is able to capture public discourse and become part of the contemporary zeitgeist. These fanciful megaprojects have more utility that just net economic draws, and the Saudis are well aware of it, just has the Bourbons were aware of the utility of Versailles, despite it bankrupting France, or Peter the Great establishing St. Petersburg and moving the capital from it's central defended position, to that peripheral, undeveloped swamp bordering Sweden. These projects serve to elevate SA's global profile, which nets other bonuses in other sectors just by virtue of higher awareness of the country, while also affirming the ruler's power for internal and external security, projecting a narrative for the medium term which develops stability, on top of the brute-force method of injecting jobs with the ultimate goal of a diversified economy
The problem is doing something too fast too quickly. Realistically doing something slowly and adapting those changes where needed is probably the better choice.
Too much focus on luxury tourism, luxury cars, etc They need industries that can retain skills and ambition But when people have the skills and ambition, they'll be poached by foreign companies, or they'll dream about working at Tesla, or Google instead of some state sponsored car company, among people who also are at the top of their game. Founders also don't seem to get any support, they're just pouring money into vanity projects, rather than founding. They could be hosting some private shark tank or whatever try to get a look into people's minds and what they want and are missing, what holes to fill
Ideally yes, but it is a race against the clock. They need the oil revenues to fund the investments needed to diversify, which means doing it before oil demand declines and their revenue stream collapses.
They need to focus on making Saudi Arabia a great place to live and work! To me "A Westerner" It doesn't seem very appealing to visit, let alone live there!
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
How is their tourism sector so weak? They literally have a mandatory pilgrimage to the heart of their country as a tenant of one of the world's largest religions and the rest of the county's the world's largest beach. Throw in a Disney World for good measure if you need to, but they should have this figured out by now.
I mean, who would want to go there? 99% of it is lifeless desert. It has some nice beaches but not anything you couldn't find anywhere else. Other than Mecca (open only to muslims) there's no cultural sites. And even then with its skyscrapers Mecca isn't that traditional now anyways. I have never heard of anyone going to their other cities and have no desire to.
I really do wonder how Saudi and the Persian Gulf are going to cope with climate change. How do you build a competitive high-income economy when your main resource is unsellable and your population can't spend any time outside for increasing spans of the year?
I recently bought 2 EV’s and converted my house to all electric, save a ton of money and will never use fossil fuel again, and look forward to the humiliating bankruptcy of all unbalanced, oil producing countries.
Never is a strong statement...the ship that imports your products uses oil...the plastics in your house has petroleum...the roads you use has bitumen and you pay taxes to maintain them..😂😂😂😂
@@eldios831 The upfront costs in terms of what's used is still vastly better over time than not having it at all. It's like the argument with EC's and the minerals used, when over the life-span of the car greatly decreases the amount of overall materials and fuel used.
It is shocking that Saudi Arabia hasn't managed to boost its tourism industry, considering they're in charge of one place on earth where a billion people are required, theologically, to go at least once in their life. They are in charge of the thing that is synonymous with "the place everyone goes to" and yet they just, can't get that to work for them?
It's so nice to see how confident Georgina has gotten with her delivery (she was already better at pronunciation & tone). By far the best presenter on the TLDR channels now.
they haven't spent money on the long term investment which produces economic growth in the modern world: education. They still can't run their own oil industry. They have to hire foreign engineers.
Who would have figured that a state ran economy trying to focus on tourism in a ultra religious theocracy where you can be arrested for not wearing a head dress or wearing a cross and where a number of it's most most important cites are closed to none Muslims; would fail?
Luxury tourism at that too. High income tourists like spending their money on things like high quality wine, going to clubs, showing off to women their life style. The UAE maybe religious but they knew how to change some aspects of their country to cater to what high income tourists like. Saudi thinks they can just force high income tourists to enjoy an Islamic lifestyle lol. Like, maybe Muslims would enjoy it, but there arent many high income Muslim tourists around.
@@rami8896 It's all hypocrisy. They're willing to bend their apprent ironclad morality for the sake of money, clearly. Perhaps it's time they stop pretending like they care and just do away with all these stupid laws and social restrictions. They have been moving in the right direction recently with letting women work and drive...which is, yeah...pat yourself on the back I guess for finally letting half of your population actually contribute to the economy instead of being uneducated slaves.
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
I’m from Saudi as well and I can guarantee she is spreading misinformation. We are literally one of the few countries that have been able to deal with all the crises during the pandemic and managed to maintain economic growth!
Omg. You guys really need someone who is an actually expert in this. Every paragraph have something small that is wrong which can change the whole point. I wanted to type it but it's way too much i don't have the energy
Ive thought for years (2005) that a good strategy would be to build a very large solar power facility. My concept was a 100+ square km array, built 10 meters off the ground, leaving space underneath for greenhouses and economically beneficial activities. With this, SA could become a long term provider of food, electricity, and coean water. This would also drive long term employment.
Thomas Sowell explains this perfectly in one of his vids. A society's prosperity is 100% dependent on its development of human capital; skills, talent, ingenuity in a reasonably free environment. Spain is the classic example. Absurly wealthy from pillaging the gold and silver from the new world, they neglected the development of their human capital, and went broke. Saudi Arabia and other similar nations dependent on the commodities they have are going down the same road. It's an irony that so many of the oil rich nations hate the Jews, because they could learn a lot from them. The Jews have relied entirely on their human capital for thousands of years, and have survived, prospered and prevailed.
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As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
As a Saudi, part of our vision achieved many targets before 2030 and we will achieve the vision sooner or later. Don't miss to visit Saudi we love you all.
They didn't say that the economies are collapsing. And all 3 economies are not doing so well lately, even according to their own statistics. And yes, I know that Europe and the US has its own problems.
After I raised up to $255k trading with her I bought a new House and a car here in the states 🇺🇲🇺🇲 also paid for my daughter's surgery (Cecilia). Glory to God shalom.
The issue is that such companies have a disadvantage. The Muslim call to pray interferes with working hours and in the modern economy any company not working at peak efficiency is doomed to being overtaken and bought out.
@@Seeyou45 Yeah thats true. Foreign companies in Saudi actually preform better for that reason. Ive even heard of people getting a warning for that, and they stopped praying and just prayed after work or during break because the company is non-Muslim. Another thing is that the call to payer in theory is 5 to 10 min but most people take their time and just chill at the mosque which can lead to 30 min to 1 hour. So its very common to see a non-Muslim company enter the market here and take a huge chunk of the market share.
That is exactly what Saudi is doing. The video mainly portrays the PIF as an entertaining investor, while 70% of its investments goes to startups and private sector companies.
I think a country has been depended on oil as a main source in 1938 and by 2017 started a plane of gradually oil independence , they need more than 7 years or 20 years to completely change the main source . And the thrive of saudi's vision is obvious to anyone inside the country but they need to work without haste because a fast development of any project rather than normal pace equals more risk of collapse so they are on the right path.
MBS' vision is probably moving too fast. You can't throw a bunch of cash and expect to develop a dynamic economy in a decade without slowly changing the culture. Everyone loves to use Singapore as an example, but they had a population that was culturally inclinded towards entreprenuership from from the very start.
They could have a Chinese model. They need to invest heavy in the local businesses and educational institutions rather have their best travel abroad for schooling. They have the money to have their own Silicon Valley. Sports washing is short term. Imagine spending a trillion on local institutions in 20 years it would be transformative.
My country Bahrain is next to Saudi Arabia and is currently doing this, they are giving grants to small businesses and also the government pays 50% of any bahraini citizens salary. This is to encourage business to hire Bahrainis rather than lower paid expats who don’t really invest their money back into our economy but rather send it to their families outside. Also there’s many government programmes for tech startups. My cousin won a competition and got a grant of 200k and further investments. Hopefully the future is bright for us :)
Yes, we want tourism and to stimulate the non-oil economy, because if Saudi Arabia continues to rely on this approach of oil, it will inevitably fall into trouble, but we are not satisfied to see our men and women drunk in the streets like crazy people. We have customs, traditions, and laws dating back hundreds of years that you must respect.
@@adamcheklat7387 this is the main problem with actual system - which is ruled by greedy shallow-minded parasites. Greed is a spinal cord of the capitalism
It's not reliance. It's cheap labor, and the average salary for a foreign worker in Saudi is $600, which corresponds with a professor and doctor salary in South/ Southeast Asia. So in a nutshell, many of them dream of working in the GCC, and that means if one of them returned to his country, 10 others would want to take his place
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
Although I respect the prince for his liberalization of Saudi society, this 2030 Vision was stillborn before it even started. Every time he reduced production in an effort to raise oil prices, the mom and pop shale operations in the USA would fill the vacuum because the higher prices made it profitable to drill. Did he not understand that oil is a world market and the Saudis are not the only players?
No, he didn't realize that. That's their entire issue. They're royals. They've got nothing but ego and luck. And when their cash runs out they'll panic like all the others.
@@bjarkiengelssonlike the indonesian oil production downfall , it is now more than half of their oil gas is imported from their neighborhood like malay and singapore
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
Unfortunately, Saudi Arabia has that Middle East syndrome where it seems like it wants to be like Dubai. I always thought to myself Saudi Arabia leadership should just invest in a bunch of tech companies and then buy out maybe some chip manufacturing and train our citizens there. I could only imagine if the Arabs all the sudden got smart and realize there’s 2 billion of them and have their own version of android better yet team up for China and push some Israel propaganda therefore 3 billion people using the same OS with pretty much crippled the west.
Even the “investments” that might not be considered vanity projects (gaming, sports, etc) seem like the came straight from the mind of a child with infinite money. (MBS)
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
That just shows how rich the US is in general and how much Americans spend and consume. Not necessarily the fact that KSA is poor or something. Besides, Aramco's nearly worth that much too, and it's profit margins are several times higher than Amazon or Walmart.
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!
Has been happening way too often with the typos recently, you gotta proof-watch some more!
@@phalanx9005true, but good on them for pinning it.
Thanks for the transparency!
Typo errors and re-upload aside... You couldn't fix the very first seconds of the video that shows DUBAI (specifically, an area called Jumeirah Beach Residences) and not anywhere that's actually in Saudi?
Wow! Given the history here, surprised anyone bothered! 😅
Maybe stop paying washed footballers $800k per week?
Thats pocket change tho
@fatdoraemon2069 😂😂 no it's not ,they don't print money like usa
They could if they actually had value in their country@@HSS02
Imagebuilding but no roi on other money spent.
That would also require them to not waste like hundreds of millions a year on LIV Golf and Esports World Cup and their World Cup and Olympics bids... I mean Monopoly GO! is making them a lot of cash but not enough to justify it
MFW pointless dystopian megaprojects don't generate long-term economic growth
Who knew!
😱
Dubai would argue otherwise
🤯🤯🤯🤯🤯🤯
They ignored fundamental issues in physics and engineering in the name of marketing 💀
Who knows perhaps focusing on vanity megaprojects to attract the rich is bonkers compared to trying to develop infrastructure to support your own people.
It’s the movie blank check in real life. Like children holding money for the first time.
As a person in Saudi they are developing infrastructure, literal districts are being levelled in rebuilt in many cities like Riyadh and Jeddah.
Riyadh is pretty much under construction 24/7 everywhere
Edit: To emphasize, Riyadh is also among the fastest growing cities, at 10th place, ahead of all Western cities and behind some South & East Asian cities.
I mean, most of their economic problems are due to the price of oil being lower than what they expected... They should thank their OPEC "allies"+Russia for that
do u even live here ?????
Bingo
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.
so buying lucid and opening a factory in saudi doeosnt help the economy.... ok sure
@@Truther271 Sure, a couple of companies. So what. They're still a petrol station.
@@AlanJeffery-y5f for now
@@AlanJeffery-y5f
It's been always a petrol station and it's not gonna change overnight. Their goal is not even to change it, their goal is to make that petrol station sell hotdogs and car aromas too
exactly! they should foccus on something actually in the manufacturing sector, they have enough sun they can use it to set up somekind of industry to be able to export.
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Spending all that money on Ronaldo isn’t working?
750 million in 10 years .... Naa u could make a own pharmacy with that money oiii
Paying Ronaldo that much is the equivalent to only fans.
sportsbrain thinks his obsession is everything
It kind of is, considering that everyone is talking about it, that was pretty much the point. What isn't working is making one of the, or if the plans were to be actually constructed by far the largest construction projects in history, having to cut it down to 10 percent of the original plans because it costs too much, having it cost too much regardless and not having a single person live there after years of building.
@@zsomborszigeti6797 You do realize NEOM is a money laundry scheme right? This has nothing to do with a linear city in the desert...
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.
Wait, where can I find the source for the OPEC+ fact, is that true?
@@alexandredesouza3692 just type oil production per country, they're all working with UN data so it should be trustworthy.
@@alexandredesouza3692 trying searching the Internet
@@alexandredesouza3692 Qatar, Ecuador and just this year Angola have all left OPEC+ I believe it was like 52%, and then when Angola left it dropped to 48%. The USA, Canada and recently Guayana have all been greatly increasing world production
I can’t even lie, they really got lucky with their wealth
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.
what did WV try with?
@@bestuan No idea what they've tried. I just got here and my report is summary of this Wendover Production video on why West Virginia is poor: th-cam.com/video/44l6f7iXGAk/w-d-xo.html. He references a report that was commissioned that says that WV is poor because it is poor (negative feedback) and mountainous.
Plus y'all had Joe 'The Vampire' Manchin sucking the life out of the state
@@bestuan They're back to their traditional economy, moonshine
Seems perfect for solar energy production. Problem is that it kills their oil business.
Saudi arabia is like:
Help me manage my oil money
Government function - $200M
Army - $80M
100 km straight line megacity - $1,3T
Govt. function and Army spending are extremely high. They give tons of subsidies to their people and they are largest purchaser of US Arms.
@@FXT130 like honestly if your gonna be glazing the US military industrial complex at least have the cash to back it up
No.
Spending money like a teenager
@@yellowtomato
Like a poor guy who gets rich
Stop building the damn wall line to nowhere unless you want to reach bankruptcy 😅
That must be the real goal
They already stopped though
@@makisekurisu4674 Well they haven't stopped, but it's been shortened to something like a 20th of the original length, so now it's just a pointlessly long skyscraper in the desert rather than a weird linear city.
@@LiF-y3c honestly they should try to convince tsmc to build a fab in there instead.
@@makisekurisu4674 Saudi Arabia doesn't really have the right conditions for microchip production. It's an inefficient economy with a comparatively unproductive workforce. Most university graduates are women, yet women are generally consigned to a handful of fields like women's medicine and education, so the majority of their educated population isn't suited to such industries and there's still taboos surrounding female workers.
Meanwhile, lower skilled workers that would be needed for logistics and basic production processes are few and far between. Saudi Arabia is relatively wealthy, so its population tends to rely on foreign workers for labour. If a microchip factory was built in Saudi Arabia, it would ironically probably employ mostly foreigners, so it makes far more sense to just build these plants elsewhere. Not to mention, the cooling required for these facilities is immense, so building it in the desert is not ideal.
I love how letting women drive is considered "liberal by Saudi standards" 💀
Borat? 😂😂
"THEY DRIVE NOW" is such an underhand statement made by so many people ive seen
Letting women drive is a bad idea. How will they make our food if their out driving?
They have the almost if not the same rights as western women, don’t let your bigotry get in the way of facts
LMFAO good joke lil bro @@BroBro-tr2cw
They made too many vanity projects and country-advertising instead of just purely investing in diversifying their economy.
What else did you want a narcissistic homicidal maniac to do?
The projects you're talking about ARE a way of diversifying the economy, even if the tourism sector didn't flourish they're bound to find their way out, the citizens are young and educated but yeah only time will tell
Based on the stock footage, they can rule out the fashion industry... 😂
😂😂😂😂
What does that mean
@@barbarasara4033 The women over there all wear the same thing aka niqabs
based on the stock footage of your country you can rule out adult size clothing
@@One-u1f Is it not obvious that given the stock footage there is little demand for innovation in fashion?
And what is so bad about conveying that using humor.
The difference between Saudi vs. Norway is ….Norway invested for their people. Saudi?? investing on for the rich. Just for the Food for thought!
Saudi and Norway is doing the same thing right.
There's no poor Saudi citizen out there just like Norway
Actually there no poor Saudi citizen. However, that's because they basically use the oil money to keep them happy and wealthy. Without it Saudi Arabia would be a poverty stricken nation without anything of value and a work force that has to take large breaks in working hours because of their faith. Yes, that is actually a negative to productivity and competitiveness.
@@Seeyou45 It's not actually faith.A lot of it are made up lies that are used to keep people out of politics.
They are essentially bribing people money and perks to keep people spoiled and stupid.
But this is a double edged sword, as the result implies.
The purest Islam is like this, you've got the five pillars of Islam which you have to follow strictly, try to avoid interest and do Islamic banking.Investments are ideal.
For the rest of the rules try your best is all.
If you only do the 5 pillars you will still go to heaven as long as you don't specifically disbelieve the Quranic verses.
You'll have sins but the good will make up for the wrongs.
The thing about women can't drive and whatnot, protest is sinful are all made-up lies
@@makisekurisu4674 There's a whole bunch of poor Saudi residents though lmao
Saudi Arabia is focused on fighting in middle east countries and spreading wahhabism
Opening shot is Dubai when you’re talking about Saudi 🥴
good spot!
"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.
That quote Was made in 70s back when Dubai was nothing more than a barren desert before it became an advanced Mega city and the envy of the middle east
Keep coping the gulf is here to stay
"The stone age didn't end because we ran out of stones"
Sounds like someone is jealous and very insecure.
Can't wait
@@MegaVuvu never gonna happen
Westerners calling others decadant is hilariously ironic
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.
singapore at first lead by dictator and mr lee kwan yew also use dictatorship but he think ahead , they make singapore the heaven for investment and now you see singapore nowadays, it is not wrong for nation with many dumb people leads by dictatorship, the problem is who run the dictatorship, it is nation future is on one people hand
They're a kingdom, AKA an internationally legitimized dictatorship, so they get a different title cause dictator implies we shouldn't do business with them.
Believe it or not, but MBS and the current monarchy wants to democratize. They much rather give more power to the people rather than the Wahhabists. But there are 2 problems. A) The Wahhabists already have too much grip over the monarchy, and B) The people might also support the Wahhabists similar to what is happening in Kuwait.
Better than the bs of democracies promising good life yet feces.
It's the same problem a lot of other countries with heavy centralized government often struggle with: they waste money on losing projects.
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.
Bro what do their citizens dont have? No taxes free healthcare and education. Their infastructure is amazing. Its just that it cant run like that forever. You can develop infrastructure only so far before it becomes a sunk cost. Their megaprojects failed because of poor planing but the end goal was to maintain the amazing life saudi citizens live thanks to petro dollars even when petrodollars run out
@@fatdoraemon2069 megaprojects are not bad on their own, starting but failing to finish so many megaprojects is bad though and a total waste
@fatdoraemon2069 I'm not an economist, but how paying 250 MD a year to Cristiano Ronaldo will improve regular people's life?
As James May said: “It’s back to carpets for you!”
@@ciroalberto397 all the jobs associated with Ronaldo and the team are the point. As pointed out in the video, SA's big issue is a sheer lack of jobs for their own people to do. Developing new industries, attracting already established industries and therefore building up a basic employment demand is literally the game. And celebrities and entertainers spur gaggles of jobs, whether it be working class like security and consumption, chefs and aides, to white collar services like coordination, management, legal, PR etc. The team being based there now means that it needs the stadium infrastructure, maintenance, and transport services and infrastructure, new hotels and housing to host fans - ticketers, pilots, drivers, airport staff, administrative workers, marketers, shop assistants, urban planners, architects, builders, electricians, plumbers, cleaners, gardeners, receptionists, etc etc.
Saudi Arabia is one of the last places I would
consider as a tourist destination, regardless of what they build.
Visiting Mecca and other historic places of the gulf would be nice if the country wasn't Saudi Arabia. Even considering Arab countries only, there's so much competition on the tourism market
It’ll change. I’m considered an apostate because I no longer consider myself a Muslim and it’s a capital punishment for most Muslim countries, but I think Saudi can change.
By the way, it’s one of the safest countries in the world
Try to visit Alula, its one of the best places in the kingdom. Just observe the rules ones you get there. Been in KSA for 10+ yrs. Safety guaranteed.
for your info, Saudi have mecca. all muslim recomended to visit it atleast once innlifetime
I’m sorry, but the line building project was stupid
Don't apologize we the saudis know it's stupid,but what to do when a smooth brain dictator is in charge.
That thing is not going up, c'mon
@@WildVoltorb the project has already started. But the length has been decreased to a km.
So is Al Muqaab, that stupid ball inside of a skyscraper was doomed from the start
A. Normal smart city would have been way better and beneficial,
You've slightly underexposed the studio footage
"Slightly" They've been in dark for weeks 🤣
@@iRiShNFT months
@@cl114c0777498d 🤣
7:05 - 7:09 *the little “Depending on Video” semi-second break was hilarious* 😂
Gee, maybe trying to build multiple infeasible ego projects in the middle of a forsaken desert was a bad idea
you reuploaded but forgot to fix the ad read, it still flashes "depending on the video" at 7:07
we care about understanding the world around us depending on the video lol
A government taking government money and try to artificially create an economy is probably not going to work long term. companies have to rise organically
They don't understand or don't care. The royal family cannot be held to account, they are surrounded by sycophants and yes men. Normally in a democracy or even a one-party state there is a level of accountability, they have to actually be productive or face being outsed by their peers. Even Putin is afraid that he could potentially be removed if he loses the confidence of his peers hence the shows of force.
@@juice6521
Pretty much.
@@khaoscero what if the private sector not capable of do this?
There are certain mistakes in the video that I would like to mention:
Women could work in Saudi Arabia before MBS
Women could travel before MBS.
The claim that MBS is trying to make the public happy by paying it well so that the "clergy" does not politically influence the people is VERY misleading and simply untrue. MBS locked up the entire "clergy" and anybody who would dare to criticize the state. One Tweet can cost you your life now due to the power of MBS. Saudi Arabia before was not like this.
Can women drive before this? How do they women get to work then?
@@TheStudio-divhave you heard of chauffeur?
weird, although i am following the most famous one on Twitter and he’s still tweeting until this very day is he a ghost 😱
@@TheStudio-div They have private drivers. a family has one driver which takes the women where they want and the girls to school.
@@تقوى-ث4ك then this is very wrong...
They are trying to copy or catch up with UAE and Qatar. They are heavily investing in Airlines and tourism industries.
Beautiful and with stronger capabilities
excuse me you cant compare UAE and Qatar to KSA. UAE GDP half a trillion with a pop of10 million est. Qatar GDP 250 billion with a pop of 2.7 million and both have saturated tourism. KSA Gdp is 1.1 trillion with 36 million pop, wait till we saturate our tourism! qatar and UAE are small and dont have a huge pop to take care of.
Here i was thinking the last video got kashoggi'd
It did
Saudi women driving: OMG... SOO progressive
Most Bangladesh women working in factories: HAHAHA poor backwards Muslims
So money makes people look progressive not human rights
I'm in saudia arabia and everything is well better off than before and a LOT less corrupt than before , I think I will start questioning everything said in this channel
@@Delax911 pretty much
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
yea this is just western media propaganda bullshit they try to put in peoples heads and for some reason it actually works. trust me by 2030 everyone will be dying to come here in saudi 🇸🇦 .
well said! in my opinion after spending the last 12 years in Austria and visiting most of western Europe! KSA is booming in comparison. where purchasing power in Europe has declined, as well as infrastructure (health care public transportation etc, and rising crime rates, in ksa on the other hand you see Saudis are spending more time and money in their own country, local tourism has gone up, restaurants shopping malls are full, more local SME are opening. crime rates are low as is poverty, taxes are negligible having only VAT at 15% and Zaka(income tax) at 2.5% ask any Saudi and any westerner living in ksa and they will all tell you the quality of life is much better here. i think the west is jealous and annoyed that we are trying to create an economic model that the west can't replicate. i mean seriously Avg income tax in the west is 48% and lets not start with the VAT. talk about being a slave to the state, that's basically working for the state half a year for free!
Hello, I wish to correct a crucial mistake in the video made.
There is an *insane* amount of focus on both investments into businesses and education.
For education, there are several high-ranking, free, easy to enter, universities in Saudi Arabia. An example would be King Abdul-Aziz University.
If you keep a moderate GPA, the government gives a monthly allowance to students, too, with automatic rewards for high GPA students.
If the student wishes to study abroad, the government has a website with an large list of universities and majors, where there are several different types of scholarships, and easy to enter if accepted into one of the universities aboard.
Not to mention, there is a huge focus on startups and business investments from both the government and private sector.
I heavily advise researching your topics further please, as it is one of the largest benefits of citizens in Saudi Arabia, and saying that "education and businesses arent focused on" is a mistake, is an understatement.
Another note, in regards to the alcohol shops,
Alcohol is not within Saudi land if I recall correctly. There has always been alcohol in Saudi Arabia, but it has always been restricted to foreigners within gated areas, as said alcohol shop.
I sense that there are a lot of topics in this video that have not been researched appropriately, and this video is an unreliable source.
Thank you.
Thank you so much
Agree. Edward said explained lon ago why there is a lack of nuance in western analysis
Alcohol was completely banned in Saudi Arabia. The Alcohol Shop is exclusively for foreigners to use and has only been implemented in order to stop foreign diplomats smuggling booze in diplomatic bags that customs aren't allowed to search.
@@Gujratiahwhos edward?
@@bonafidemonafide7810 a rather clever chap. His seminal work is 'orientalism '. Read it
100 years of oil. Multiple generations of Saudis (royal and otherwise) grew up in an environment of limitless money and oil with almost no effort. Think what that does to (a) people. They have no idea how the world works or how to do anything other than pump and sell oil. They never had to work for anything or learn anything to survive or struggle or think deeply or anything. At this point the entire country is like 3rd and 4th generation trust fund kids- only the trust fund is running out.
They are so screwed.
Saudi Arabia had world class universities you Racist loser "doesn't know how the real world works" my ASS
They dont know how to pump oil even. Their oil pumps are not saudi built or designed, they are western. And probably maintained by slaves
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
TLDR'S favorite kind of video they like to make:
"Why this [Nation] Is doin [Worse/Better]."
There's no economy in Saudi, it's a gas station..
There is no project like XAI88x...it is literally owned by Elon Musk
I'm excited to see how xAI unfolds. Self interest meets good outcome.. indeed..
I Can’t believe i almost missed this, Appreciate the quick update my man!
I actually just bought $5000 of xAI yesterday because I felt it would start climbing. Up around $5650 already because of this recent run up. Just bought more at less than $1
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I would have thought that a key thing to do would be to go big on mining various ores, it is not like they would be cutting down a rainforest.
Mining where tho? Where the mines at its just a latge desert
@@fatdoraemon2069 it's not all desert... They've got over 600.000km² worth of mineral reserves even if there is under sand they've the money for it and it'd still be worth the investment
@@yofedstyhrega4594 "even if there is under sand they've the money for it" Not if it costs just as much or more money to extract it. Deserts are deemed inhospitable for a reason, and so far humans have been really poor at dealing with shifting dunes.
@@serebii666While I would usually agree with you there is more potential upside by default than their current litany of vanity projects.
@@mrgaudy1954 The unfortunate fact of reality, in a world of Huak Tuah podcasts, crypto confidence scams and Kardashian business ventures is that projects and their marketability and initial success often boils down not to sound economics or value, but notoriety that is able to capture public discourse and become part of the contemporary zeitgeist. These fanciful megaprojects have more utility that just net economic draws, and the Saudis are well aware of it, just has the Bourbons were aware of the utility of Versailles, despite it bankrupting France, or Peter the Great establishing St. Petersburg and moving the capital from it's central defended position, to that peripheral, undeveloped swamp bordering Sweden. These projects serve to elevate SA's global profile, which nets other bonuses in other sectors just by virtue of higher awareness of the country, while also affirming the ruler's power for internal and external security, projecting a narrative for the medium term which develops stability, on top of the brute-force method of injecting jobs with the ultimate goal of a diversified economy
You got any non-dimmed lights in the studio ?
Yep. Plase make it more bright. It's difficult to watch
I guess she doesn't like how she looks so the lights are kept down
They are trying to help push Saudi Arabia into bankruptcy
Getting ready for Halloween, it seems
The problem is doing something too fast too quickly. Realistically doing something slowly and adapting those changes where needed is probably the better choice.
Too much focus on luxury tourism, luxury cars, etc
They need industries that can retain skills and ambition
But when people have the skills and ambition, they'll be poached by foreign companies, or they'll dream about working at Tesla, or Google instead of some state sponsored car company, among people who also are at the top of their game.
Founders also don't seem to get any support, they're just pouring money into vanity projects, rather than founding. They could be hosting some private shark tank or whatever try to get a look into people's minds and what they want and are missing, what holes to fill
Ideally yes, but it is a race against the clock. They need the oil revenues to fund the investments needed to diversify, which means doing it before oil demand declines and their revenue stream collapses.
The thing is that the PIF is not totally paid for directly by the Government. A lot of their cashflow is through other financial instruments
Let's be real, most of their cashflow is from the Aramco dividend.
They need to focus on making Saudi Arabia a great place to live and work! To me "A Westerner" It doesn't seem very appealing to visit, let alone live there!
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
its very appealing to stay there for few years if you are in the right place, the moneyyy will be supergood 😉
@@redemissarium
what do you mean ?
So many mistakes and misinformation it’s hard to respond. Fairly certain this was paid for.
heeey what are you doing here 🤣
It's pure hatred towards the kingdom
Elaborate
Well essentially everything has to be paid for. Information isn’t free.
Lol we get it, you're a Saudi bootlicker, relax bud
How is their tourism sector so weak? They literally have a mandatory pilgrimage to the heart of their country as a tenant of one of the world's largest religions and the rest of the county's the world's largest beach.
Throw in a Disney World for good measure if you need to, but they should have this figured out by now.
until recently you couldn't visit the country for any reason except religion or work.
bedouins aren't known for smart ideas
I mean, who would want to go there? 99% of it is lifeless desert. It has some nice beaches but not anything you couldn't find anywhere else. Other than Mecca (open only to muslims) there's no cultural sites. And even then with its skyscrapers Mecca isn't that traditional now anyways. I have never heard of anyone going to their other cities and have no desire to.
Wahabis generally hate non muslims. Who would want to go and support people that hate them?
@@Greatcountry37Fr like why somenone would go to saudi Arabia? to me it's like going to north korea or any other autoritarian countries.
Small business and small manufacturing are back bone for economic growth and sustainability
I really do wonder how Saudi and the Persian Gulf are going to cope with climate change. How do you build a competitive high-income economy when your main resource is unsellable and your population can't spend any time outside for increasing spans of the year?
Climate Change might help their agriculture. Its the anti carbon rules that will hurt the economy not climate change itself.
First time I have seen your program, and you are to the point and factual. So I just JOIN you.
The Saudi break even price of $112 per barrel doesn't really mean anything without stating the production volume it is calculated with...
Bloomberg has always been very biased towards Saudi
@@rami8896 They easily paint themselves with this brush by presenting half facts. It casts suspicion in their intent by not reporting whole facts
Very important point.
Do you think you understand more than economists?
The demand/production output is going anywhere
I recently bought 2 EV’s and converted my house to all electric, save a ton of money and will never use fossil fuel again, and look forward to the humiliating bankruptcy of all unbalanced, oil producing countries.
Did you buy that with debt or are you just loaded
@@RuffinItABprobably loaded, and making back all the money in saving energy cost.
Never is a strong statement...the ship that imports your products uses oil...the plastics in your house has petroleum...the roads you use has bitumen and you pay taxes to maintain them..😂😂😂😂
Solar powered electricity?
@@eldios831 The upfront costs in terms of what's used is still vastly better over time than not having it at all. It's like the argument with EC's and the minerals used, when over the life-span of the car greatly decreases the amount of overall materials and fuel used.
It is shocking that Saudi Arabia hasn't managed to boost its tourism industry, considering they're in charge of one place on earth where a billion people are required, theologically, to go at least once in their life. They are in charge of the thing that is synonymous with "the place everyone goes to" and yet they just, can't get that to work for them?
Many Muslims are poor.
It does work, it generates billions in profit and is the only reason theyre 11th in tourism in the world.
@@greenbee6902 But they're having trouble attracting non-muslim tourists.
@@ToyTiger666 Op was talking about religious tourism, which does work for saudi.
What a fantastic analogy of the country. Well written
It's so nice to see how confident Georgina has gotten with her delivery (she was already better at pronunciation & tone). By far the best presenter on the TLDR channels now.
they haven't spent money on the long term investment which produces economic growth in the modern world: education.
They still can't run their own oil industry. They have to hire foreign engineers.
Who would have figured that a state ran economy trying to focus on tourism in a ultra religious theocracy where you can be arrested for not wearing a head dress or wearing a cross and where a number of it's most most important cites are closed to none Muslims; would fail?
Luxury tourism at that too. High income tourists like spending their money on things like high quality wine, going to clubs, showing off to women their life style. The UAE maybe religious but they knew how to change some aspects of their country to cater to what high income tourists like. Saudi thinks they can just force high income tourists to enjoy an Islamic lifestyle lol. Like, maybe Muslims would enjoy it, but there arent many high income Muslim tourists around.
@@rami8896 It's all hypocrisy. They're willing to bend their apprent ironclad morality for the sake of money, clearly. Perhaps it's time they stop pretending like they care and just do away with all these stupid laws and social restrictions. They have been moving in the right direction recently with letting women work and drive...which is, yeah...pat yourself on the back I guess for finally letting half of your population actually contribute to the economy instead of being uneducated slaves.
@@rami8896 Guess they're betting on it increasing though. Which tbf, it is.
Saudi Arabia is now 11th in tourism and the fastest growing in 2024
ultra religious theocracy? not to defend the dude but i don't think you've updated your saudi arabia update sicne like 1970
I appreciate the female presentator very much. Her voice is very clear and comforting-
A country needs leaders who lived real lives that built character and developed their understanding of real world economic mechanisms
Venezuela had that with Chavez and Maduro.
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
I live in Saudi, I have no data. But I can see clearly that the speaker has no clue of what she is saying. Some of the information are totally wrong.
I’m from Saudi as well and I can guarantee she is spreading misinformation. We are literally one of the few countries that have been able to deal with all the crises during the pandemic and managed to maintain economic growth!
wrong information like?
Omg. You guys really need someone who is an actually expert in this. Every paragraph have something small that is wrong which can change the whole point. I wanted to type it but it's way too much i don't have the energy
Well said. Their debt to gdp ratio is
@@Nick-kv6zk until you learn how to spell "money" I'd avoid making comments about other people's experience, might make you look like a moron lol
Maybe they’re not diversifying enough and are spending too much on foreign attraction rather than human index/local business development for SME’s
Thanks for cheering me up with this analysis.
Ive thought for years (2005) that a good strategy would be to build a very large solar power facility. My concept was a 100+ square km array, built 10 meters off the ground, leaving space underneath for greenhouses and economically beneficial activities. With this, SA could become a long term provider of food, electricity, and coean water. This would also drive long term employment.
As James May said: “It’s back to carpets for you!”
The new newscaster sounds authentic just like the OG guy. Looking forward to see you expanding your company.
Talking about the Saudi economy and the video starts with dubai very credible channel
Thomas Sowell explains this perfectly in one of his vids. A society's prosperity is 100% dependent on its development of human capital; skills, talent, ingenuity in a reasonably free environment. Spain is the classic example. Absurly wealthy from pillaging the gold and silver from the new world, they neglected the development of their human capital, and went broke. Saudi Arabia and other similar nations dependent on the commodities they have are going down the same road. It's an irony that so many of the oil rich nations hate the Jews, because they could learn a lot from them. The Jews have relied entirely on their human capital for thousands of years, and have survived, prospered and prevailed.
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Garbage bot
Bot
>It's so over!
>We're so back!
>It's so over!
MBS is not so bright. He loves flashy and has unrealistic view in life. To him, money grows inside sand
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
That's a very brave newsreader suggesting that MBS's plans might not be going to plan...
They have spread their Wahabi ideology to many other Muslim countries
And non-Muslim countries.
@ thanks I'd not heard of kharijites before, so I looked it up! Interesting
As a Saudi, part of our vision achieved many targets before 2030 and we will achieve the vision sooner or later. Don't miss to visit Saudi we love you all.
meh those unrealistic projects . what did u achieve could u list some
TLDR on their 37th version of “China/Saudi Arabia/Russia’s economy is collapsing” video this year
Forgot the monthly Turkey video ;-)
Lmao true
They don't say it's collapsing, they just point out the country's economic problems
They didn't say that the economies are collapsing. And all 3 economies are not doing so well lately, even according to their own statistics. And yes, I know that Europe and the US has its own problems.
@@MrOldWilliam it is clickbaity though
This presenter is really good! Keep her!
I Hit 250k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in July 2024
Sounds good,how do you do that? I'm interested,how do I go about getting started?
Do you invest with a professional broker??I'd appreciate it if you show me how to go about it.
After I raised up to $255k trading with her I bought a new House and a car here in the states 🇺🇲🇺🇲 also paid for my daughter's surgery (Cecilia). Glory to God shalom.
Sure, what's Apk her directly but TH-cam's got a thing with posting numbers👎
+1530✅
Not building ridiculous lines in the sand might help.
Diversifying the economy like establishing companies that contribute to the GDP would be a idea other than relying upon oil only.
The issue is that such companies have a disadvantage. The Muslim call to pray interferes with working hours and in the modern economy any company not working at peak efficiency is doomed to being overtaken and bought out.
@@Seeyou45 Yeah thats true. Foreign companies in Saudi actually preform better for that reason. Ive even heard of people getting a warning for that, and they stopped praying and just prayed after work or during break because the company is non-Muslim.
Another thing is that the call to payer in theory is 5 to 10 min but most people take their time and just chill at the mosque which can lead to 30 min to 1 hour. So its very common to see a non-Muslim company enter the market here and take a huge chunk of the market share.
@rami8896 yeah this wasn't a problem in the middle ages or the early modern period but it is now because the economic competition is 24/7.
That is exactly what Saudi is doing. The video mainly portrays the PIF as an entertaining investor, while 70% of its investments goes to startups and private sector companies.
I think a country has been depended on oil as a main source in 1938 and by 2017 started a plane of gradually oil independence , they need more than 7 years or 20 years to completely change the main source . And the thrive of saudi's vision is obvious to anyone inside the country but they need to work without haste because a fast development of any project rather than normal pace equals more risk of collapse so they are on the right path.
I would not worry about Saudi Arabia, the US debt is something to worry about
Cope
lmao, cope plz
MBS' vision is probably moving too fast. You can't throw a bunch of cash and expect to develop a dynamic economy in a decade without slowly changing the culture. Everyone loves to use Singapore as an example, but they had a population that was culturally inclinded towards entreprenuership from from the very start.
They could have a Chinese model.
They need to invest heavy in the local businesses and educational institutions rather have their best travel abroad for schooling. They have the money to have their own Silicon Valley. Sports washing is short term. Imagine spending a trillion on local institutions in 20 years it would be transformative.
Not enough workers, they have to import their labor now no one wants to get their hands dirty. Also a reason their army sucks.
My country Bahrain is next to Saudi Arabia and is currently doing this, they are giving grants to small businesses and also the government pays 50% of any bahraini citizens salary. This is to encourage business to hire Bahrainis rather than lower paid expats who don’t really invest their money back into our economy but rather send it to their families outside. Also there’s many government programmes for tech startups. My cousin won a competition and got a grant of 200k and further investments. Hopefully the future is bright for us :)
If you can screw up an economy where you can effectively print money, you probably shouldn't be in charge of a country.
Reupload?
There is no alcohol in Saudia Arabia, Women used to work and Were allowed to since the beginning stop sharing misleading info.
Yes, we want tourism and to stimulate the non-oil economy, because if Saudi Arabia continues to rely on this approach of oil, it will inevitably fall into trouble, but we are not satisfied to see our men and women drunk in the streets like crazy people. We have customs, traditions, and laws dating back hundreds of years that you must respect.
If i were an absolute monarch, I’d spend that cash on useful projects for the people: public transit, good schools, new parks, etc…
Sounds like Kaddafi 😂
@@thelostgeneration2000 Try a more dovish Napoleon.
@@adamcheklat7387 I can't recall any other option that suits your comment... 😂 I'm sure you would be great to this role but I wonder who inspired you?
@@thelostgeneration2000 Nobody. But if you want my guess, I’d say Pedro II of Brazil for his dedication to improve the lives of his subjects.
@@adamcheklat7387 this is the main problem with actual system - which is ruled by greedy shallow-minded parasites. Greed is a spinal cord of the capitalism
Saudi Arabis reading economics 101 backwards
Before the oil arabs in saudi arabia were Bedouins. It cant be expected that such people will build a strong economy 😅
Literal tribesmen with barely if any concept of actual civilization
the first stock video you've used is the dubai marina not KSA
That without considering their reliance on foreign worker
Exactly!!
It's not reliance. It's cheap labor, and the average salary for a foreign worker in Saudi is $600, which corresponds with a professor and doctor salary in South/ Southeast Asia. So in a nutshell, many of them dream of working in the GCC, and that means if one of them returned to his country, 10 others would want to take his place
@@sowonkun why would they go though are they forcing them?
love how it's a video about KSA and in the first second of the video you show Dubai
Decided to piss their millions on vanity projects, washed up footballers instead of infrastructure , education, R&D, businesses,
Saudi league has grown 3 times, let's go
@@عبداللهالحربي-ف7لpride always comes before a fall.
@@bjarkiengelsson Not every time
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
Well, Im Saudi and I m witnessing a thriving economy I ve never experienced!
Although I respect the prince for his liberalization of Saudi society, this 2030 Vision was stillborn before it even started. Every time he reduced production in an effort to raise oil prices, the mom and pop shale operations in the USA would fill the vacuum because the higher prices made it profitable to drill. Did he not understand that oil is a world market and the Saudis are not the only players?
guyana and suriname :) im just gonna say htat
No, he didn't realize that. That's their entire issue. They're royals. They've got nothing but ego and luck. And when their cash runs out they'll panic like all the others.
@@bjarkiengelssonlike the indonesian oil production downfall , it is now more than half of their oil gas is imported from their neighborhood like malay and singapore
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
Video starts at 4:39 and TLDR really needs to stop confusing bloat with context.
Weird opening shot of JBR in Dubai. Not quite Saudi Arabia.
I UNDERSTAND THAT 100 MILE LONG LINE BLDG, IS NOW A TWO BEDROOM CONDO
Unfortunately, Saudi Arabia has that Middle East syndrome where it seems like it wants to be like Dubai. I always thought to myself Saudi Arabia leadership should just invest in a bunch of tech companies and then buy out maybe some chip manufacturing and train our citizens there. I could only imagine if the Arabs all the sudden got smart and realize there’s 2 billion of them and have their own version of android better yet team up for China and push some Israel propaganda therefore 3 billion people using the same OS with pretty much crippled the west.
Even the “investments” that might not be considered vanity projects (gaming, sports, etc) seem like the came straight from the mind of a child with infinite money. (MBS)
As a Saudi citizen, I can say that Mohammed bin Salman is the stupidest Arab figure and the most failed ruler without a dispute. He inherited power without qualifications and is only good at military and economic confusion. We hope for his demise. We are tired of his stupidity. I expect that there will be a revolution soon similar to what happened in Iran during the rule of Shah Muhammad Pahlavi
Conbine the revenue of Amazon and Wallmart and its greater than last year of gdp of Saudi Arabia 💀💀💀
That just shows how rich the US is in general and how much Americans spend and consume. Not necessarily the fact that KSA is poor or something. Besides, Aramco's nearly worth that much too, and it's profit margins are several times higher than Amazon or Walmart.
@@santhoshsridhar5887 but Amazon and Walmart don't run a country but amarco does👍
Yet Saudi has the world fastest growing tourism 😂😂
In contrast to Saudi Arabia, Norway was already very rich before the oil sector grew massive
Thats not true..
Norway was extremely poor only 100 years back.
The non oil gdb growth 4.5% . From beginning the 2030 vision growth 20% … the Saudi Arabia the highest growth in g20 … this all means huge success .
A Line of decline the size of a city 😂