Is Saudi Arabia A Very Rich

Saudi Arab is definitely Arab country has done something tremendously well in the recent times and the past as well because of the oil and other natural resources that the country produce on a very large scale the country has been getting a huge amount of success in the recent times as well.
Key Takeaways:
- Saudi Arabia has the largest economy in the Arab countries.
- The government is working toward economic growth when it comes to their natural resources and their also making huge amount of wealth by using different strategies and investing in huge numbers.
- Wealth distribution remains uneven because there is no political parties involved in the countries affair.
- Oil dependency poses long-term risks for sustainable growth of the people and the people who are living in the country the oil dependency has the main reason of the GDP growth.
We Think You Might Like:
- 4 Reasons Why Some Countries Are Rich And Some Are Poor
- How Did Japan Become A Rich And Developed Country
- Is The Bahamas A Rich Country?
- How Singapore Became A Rich Country
- Is Bahrain a rich country?
A Brief Overview of Saudi Arabia’s Economic Landscape
Saudi Arab is the nation that depends upon the economic landscape of the country and its GDP in 2023 was estimated 1.6 trillion dollars which is the huge number and become the highest rank nations in the recent times according to the national magazine which has rank Saudi Arabia striving force in the coming time.
We have to appreciate the strategy of the Saudi Arabian country one of the most wealth generated countries when it comes to their income and they have maintain a check and balance in the wealth as well.
Oil – The Lifeblood of the Saudi Economy
The backbone of Saudi Arabian country is produced by oil according to the organisation of petroleum exporting countries Saudi Arabia exports around 80% of the government revenue and the revenue left the country generates is definitely because of oil it depend upon the GDP growth as well 42% of the GDP growth of the country depends upon the production of oil and other natural resources of the country.
The country has done really well that avenues from oil enable Saudi Arabia to lavish luxurious lifestyle and give the citizens the providing five standard that the country demands if you definitely visit and go there you will see that how much resources that the countries giving to the citizen of the country.
Vision 2030 – Diversifying the Economy
The country is doing really well in the investment sector as well the obviously the country has done raferally well in 2019 many of the people came to visit the country because of the lifestyle tourism has been increasing Day by Day May Day products like EMO said by 33 time of the size of the New York city has been started their and the most of the people from all over the world go out there to see the project and definitely when tourism is promoted by any country the GDP growth of the country will increase because the people will invest people will see people will look and give you a positive image about the country as well.
But here’s the challenge: THE CHALLENGE THAT THE COUNTRY HAS THE COUNTRY IS TOTALLY DEPENDED UPON OIL AND HOW THE OIL WILL BE PRODUCED.
The Wealth Gap – Is It Evenly Distributed?
When we talk about wealth there is no doubt that the country is doing really well because of the wealthy lifestyle and the luxurious lifestyle the country gives the people who are living there however Saudi Arab does not necessary share the lifestyle with the coming tourist.
Unfortunately the unemployment in the country is increasing up to 70% of the population is on employed the age is over 35 and 35 + most of the times Saudi Arab youth is unemployed and the youth ratio is about 28% all citizen do not enjoy the luxurious lifestyle at the country claims to have because of the kingship groups that the country has.
This disparity in the wealth distribution the country definitely needs to make some changes because everybody is not providing everybody is not living the life that you want to live the difference between the rich class and the poor class is very huge.
Foreign Investment and International Relations
The Saudi government has definitely made some foreign changes and make sure that the relationship with the people and the investment tycoon increase we have definitely discuss that the countries like Saudi Arabia China and Russia definitely showing their interest in interesting in the country because of the places and the buildings at the country is planning to have in their country.
Saudi Arabia however has face criticism by the people and the people all over the world because they are not giving equal rights to the people human rights are also being violated in the country the treatment of the corner workers are also being criticize because most of the Saudi’s Creed treat them as slave
Social Reforms and Economic Opportunities for Women
In 2018 many of the women are politically allowed to drive and travel without a mail guardian and permission which is very good for any women can make up to 33% of 2 the Saudi work force and increase the GDP growth and they can also contribute towards their lifestyle as well because when you are earning a decent amount of income then definitely you can increase the lifestyle that you want to have in your life.
Still many challenges are there women often face barriers in male dominant industries while progress is made by the sorry Arabian country still ranks in the 147 out of 150 3 progressive countries all over the global area.
Infrastructure and Megaprojects
THE COUNTRY IS PRODUCING MANY projects when it comes to their lifestyle and to showcase the people that how good the country is doing for example red c project AIIMS for the transformation of the country 70000 jobs will be contributed towards the people and the economy will also increase this is what the project claims we will hope for the best.
Such development sector needs to be done by the Saudi government before its too late because the class the poor class and the working class the difference between the two is huge and the kingship groups are always there in the country which is also exploiting the human rights as well.
Is Saudi Arabia’s Wealth Sustainable?
To conclude we can say that there is no doubt that the Saudi Arabian country is very well the and very rich man comes to their class and the luxurious life style but the stability is still not there there are some challenges that the country is facing and they need to cope of the that before too late.