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Saudi Arabia's $100 Billion Tourism Pipe Dream
The Saudi monarchy has been saying since 2016 that it is weaning the kingdom from its dependence on oil production. Led by the crown prince, Mohammed bin Salman, the government has been working to diversify and improve Saudi Arabia’s non-oil economy. Today, came news about the kingdom’s attempt to become a tourist destination, which was meant to be a celebration but is more of a warning of the infeasibility of the diversification plan. The overall Saudi economic diversification is led by a program called Vision 2030, which is meant to create new industry and new jobs in the kingdom. In the spring of 2016, Prince ... (full story)