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\nSaudi Arabia Economy\n

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\nLike many aspects of Saudi Arabia, the country’s economy is a mix of contradictions. Thanks to its abundant oil reserves, Saudi Arabia is the 19th-largest economy in the world. The country is a member of the G20 and has a per capita...\nLike many aspects of Saudi Arabia, the country’s economy is a mix of contradictions. Thanks to its abundant oil reserves, Saudi Arabia is the 19th-largest economy in the world. The country is a member of the G20 and has a per capita gross domestic product on par with South Korea and ahead of Portugal. It has the largest economy in the Arab world and the Middle East. And yet, Saudi Arabia is classified as a high-income “developing” country. The government derives 90 percent of its revenues and 45 percent of the country’s GDP from its state-owned oil enterprises. The country is a leading member of OPEC, which is an intergovernmental organization of 13 nations. Over the past decade, the performance of the Saudi economy has declined sharply. In an effort to diversify the country’s oil-dependent economy, the government—that is, the royal family—has established a new strategic framework called Vision 2030. Learn more about the key elements and impact of this overarching initiative.\n
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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10:15
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
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Media Type
Instructional Videos
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Source:
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\nAtma Global Knowledge\n\n
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Date
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2023
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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saudi arabia, islam, oil, vision, transparency, economy, population, governments
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Additional Tags

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king salman, mbs, prince, mohammed, bin salman, clerics, aramco, princes, patronage, g20, arab world, doing business, world bank, hajj, the annual islamic pilgrimage, wasta, bribery, saudization, nitaqat, royal family, ruling family, private sector, major problem, saudi nationals, saudi economy, saudi, workforce, saudis, revenues, reliance
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Classroom Considerations

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Best For: Explaining a topic
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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Saudi Arabia Economy\" href=\"/subscription/new\">\"Saudi\n\n
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