The Kingdom of Saudi Arabia
An Example of Innovation Aiming to Be at the Forefront of the World
The Kingdom of Saudi Arabia is a country with many interesting characteristics, it has an area of 2,149,690 km² and a population of 32,275,687 inhabitants in 2016. It is known worldwide for being the leading oil exporting country and has important relations with the USA and the European Union. The Kingdom of Saudi Arabia is home to the holiest places of Islam, such as the city of Mecca, where the Great Mosque is located, and the city of Medina, where the Prophet’s Mosque is located.
With these characteristics in mind, one of the main changes being driven by the innovative leadership of Crown Prince and Deputy Prime Minister Mohammed bin Salman is to develop the country with a focus on major technological reforms and the development of major projects that not only impact economic diversification, but in all areas that innovation can reach. But all this forward momentum is being carried out hand in hand with a great respect for tradition and a strong sense of appreciation for what is Saudi.
In order to take on this great challenge, the Saudi Vision 2030 project is being carried out, which includes three fundamental pillars:
- A vibrant society
- A thriving economy
- An ambitious nation
These three pillars support 96 strategic objectives, for which 13 programs were established for the realization of Saudi Vision 2030, ranging from a quality of life program, to a privatization program, all with a view to developing cities managed with artificial intelligence (such as the mega-projects in the Neom, and the car-free, pollution-free city called The Line, which will see a significant presence of robots and AI), the creation of large tourist resorts and the recognition of women, who have gone from not being able to drive to being at the head of the stock market, chairing banks, managing hotels and being university chancellors, demonstrates that the changes are not only feasible but real.
The challenges are many, but the determination shown by the Kingdom of Saudi Arabia to embrace forward-looking change and innovation is exemplary, which bodes well for the future of a kingdom where 70% of the population is under the age of 30.
Main Findings
The Kingdom of Saudi Arabia is not one of those nations that is running towards the future and innovation, but instead is making impressive leaps and bounds in this regard.
If all the goals are effectively achieved, it means not only a success in economic diversification, which would present more options than oil, but will create a powerful financial and tourism potential that will undoubtedly be relevant worldwide.
Innovation from the point of view of Saudi Vision 2030 suggests that very soon we will be able to observe changes, especially in the focus on becoming a less bureaucratic State and in having an increasingly better perception of corruption.
A sign of this development is the positive change that the country has had from 2020 to 2021, where according to the index of the freest economies of the Heritage Foundation, Saudi Arabia went from 83rd to 63rd place.
