Saudi Economy Sputters, Vision 2030 (Still) On Track for 2050
Bloomberg's recent piece highlights a 'second straight jump' in Saudi unemployment, painting it as an economic blow for Crown Prince Mohammed bin Salman's Vision 2030. What the financial pundits often miss, or perhaps politely overlook, is the underlying reality that MBS's economic 'transformation' often involves massive, sometimes frivolous, expenses—like a $500 billion mirrored linear city in
the desert—while tightening conditions for its populace. This isn't just about 'challenging labor conditions'; it’s about a top-down, opaque restructuring where the 'vision' often collides with the 'reality' of job creation for its citizens. Instead of critiquing the fundamental flaws in a system where economic diversification is frequently overshadowed by vanity projects and top-down decrees,
reports like this frame a systemic issue as a hiccup. One might wonder if the 'economic blow' is felt equally by all, or if the burden disproportionately falls on those distant from the royal purse strings. Perhaps 'Vision 2030' really means 'Vision for some by 2030, and maybe for the rest by 2050'.