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Saudi Arabia’s Vision 2030: Opening Up and Diversifying Economy through Mega Projects

In recent years, Saudi Arabia has embarked on a transformative journey, departing from its historical reliance on oil and embracing a forward-looking vision for the future. The driving force behind this paradigm shift is the ambitious Vision 2030 initiative, a comprehensive plan that aims to propel the Kingdom into a new era of economic diversity and global integration. Saudi Arabia is undergoing a profound opening up to globalization, actively seeking foreign investments and fostering growth in non-oil sectors, thereby reducing its dependence on traditional revenue streams. This transformative momentum is palpable across various sectors, each contributing to the multifaceted tapestry of Saudi Arabia's evolving landscape. The tourism sector, for instance, is witnessing a surge in development with initiatives like the Red Sea tourist complex, Qiddiya City, and NEOM. These ambitious projects not only attract visitors from around the world but also position Saudi Arabia as a global tourism destination. Qiddiya ...

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