Well, we all know about the fact that Saudi Arabia is massively trying to attract tourists. Not only from the Arab Region but from all over the world. They’re doing so by creating, for instance, the Riyadh season. The two times that witnessed a great success in the two years they could do it in (COVID19). However, in a recent piece of news comes the biggest and newest surprise “the amount of money Saudi Arabia invested this yea until September is 6 BILLION Riyals”. Yes, my dear, that is too much money!
But hold up, not all of the money was paid by the Saudi Government. The government contributed just two billion. As for the rest “have come from the private sector,” the fund said in a statement. Even though they are being attacked by the Houthis, Their work should really be admired.
There is an obvious reason why Saudi is doing this. They know that they cannot rely on Oil forever. Eventually, it will run out. So that is why you’ll see Saudi investing a whole lot of money in different sectors such as AI and everything related to IT via their new “silicon Valley” city NEOM and many other ways. And that’s how you get a country to diversify its options when it comes to its economy.
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