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At a time when global movie theaters’ revenues are expected to decrease by up to 80% during 2020, revenues are increasing in the Kingdom of Saudi Arabia, topping the list of the most profitable countries in the Middle East, after the growth witnessed by Saudi Arabia in 2019 in this…
In a 2016 interview with al-Arabiya television, Saudi Arabia’s crown prince Mohammed bin Salman did not mince words when he said: “We have developed a case of oil addiction.” This is the central economic dilemma facing Saudi Arabia and the other oil-producing countries of the Middle East – their dependence…
Recent developments According to the World Bank, Saudi Arabia’s economy contracted moderately at 0.6 percent in 2017, as oil production was restrained in accordance with the OPEC+ agreement, and non-oil sector growth slowed in the wake of reduced public spending. Early data for 2018 suggests that non-oil gross domestic product…
The turning point in my life came when I discovered the law of cause and effect, the great law of the universe, and human destiny. I learned that everything happens for a reason. I discovered that success is not an accident. Failure is not an accident, either. I also discovered…
The Boston Consulting Group’s (BCG) annual banking index, released last month, revealed that the GCC banking industry grew in 2017 at 2.3 percent, lower than in 2016. Growth stemmed almost exclusively from retail and corporate banking. While, there was a significant decline in revenue growth,the upside was that banks were…
In 2015, Saudi Arabia’s gross domestic product was estimated at SAR 597.3 billion ($159.3 billion). At that time, the World Bank’s Global Competitiveness Report (GCR) ranked the kingdom’s economy 25th out of 144 countries. The Saudi economy was characterised as one that was “transitioning” from “factor-driven” to “efficiency-driven,” a position…
