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How a $2.2 trillion dream city in the Saudi desert got wound back
An image of the proposed The Line development in Saudi Arabia. (Supplied: NEOM)
The war in the Middle East is forcing one of the region's biggest players to rethink some of its grand plans, with Saudi Crown Prince Mohammed bin Salman's trillion-dollar Vision 2030 rocked by the conflict.
The blueprint for Saudi Arabia's future, unveiled a decade ago, had outlined a glittering future for the kingdom as a hub for major events and sports to compete with its gulf neighbours, with futuristic cities rising out of the desert sands.
Even before the US and Israel launched strikes against Iran at the end of February, Vision 2030 was under strain, with speculation that some projects could be scrapped or dramatically scaled back as the plan's staggering ambition crashed into financial reality.
Vision 2030 turns Saudi Arabia into tourism hotspot
Saudi Arabia has
recorded a major transformation in its tourism, hospitality and events sectors
under Vision 2030, which has reshaped the Kingdom into a fast-growing global
destination, according to senior leadership statements.
The Vision’s first and
second phases have delivered widespread economic and social change, with
tourism emerging as one of the key pillars of diversification and non-oil
growth.
Real GDP reached
SAR4.9 trillion ($1.31 trillion) by the end of 2025, driven largely by the
expansion of non-oil sectors, which now account for 55% of the economy.
Tourism has played a
central role in this shift, contributing around 5% of GDP and recording strong
growth in international arrivals and spending.
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Vision 2030: The Story of Transformation from Traditional Management to Global Digital Leadership
Saudi Arabia has embarked on a path of digital transformation and a knowledge-based economy as part of Vision 2030, relying on an advanced digital infrastructure and a knowledge base accumulated over many years, which has enhanced its ability to compete in future economies.
This transformation has been driven by a national ambition to diversify the economy, create new job opportunities, and empower youth through building an integrated system that supports innovation, research, and technology.
As part of this transformation, the Kingdom adopted a "paperless government" policy, which aimed to facilitate beneficiaries' access to government services through unified digital platforms covering various sectors such as justice, health, tourism, investment, housing, logistics, and real estate, among others.
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