Curriculum The Economy of Saudi Arabia
The Economy of Saudi Arabia
Saudi Arabia's economy: an overview, oil discovery and the rise of the kingdom, Aramco, OPEC and price management, the rentier state, Vision 2030, the PIF and giga-projects, Saudization and foreign workers, women and social change, the fiscal position and riyal peg, and a recap.
- Saudi Arabia at a Glance Saudi Arabia is the world's largest oil exporter, a founding member of OPEC and the biggest economy in the Middle East, now trying to diversify beyond oil. 📄 Read-aloud
- Oil Discovery and the Rise of the Kingdom After the kingdom was unified in 1932, oil discovered in 1938 and developed by an American consortium transformed a poor desert land. 📄 Read-aloud
- Saudi Aramco: The World's Most Valuable Oil Company Aramco is state-owned, hugely profitable and became a listed company in 2019 in the world's largest IPO at the time. 📄 Read-aloud
- OPEC and Oil Price Management Saudi Arabia leads OPEC and OPEC+, adjusting output to influence prices, sometimes at a cost to its own revenue. 📄 Read-aloud
- The Rentier State and the Social Contract Traditionally, citizens received jobs, subsidies and services funded by oil income in exchange for political stability, with few taxes. 📄 Read-aloud
- Vision 2030: The Diversification Plan Launched in 2016, Vision 2030 seeks to reduce oil dependence by developing tourism, mining, entertainment, industry and finance. 📄 Read-aloud
- The Economy of Saudi Arabia: Checkpoint 1 Quick checkpoint - five questions on the economy of saudi arabia. 5 questions
- The Public Investment Fund and Giga-Projects The PIF, a sovereign wealth fund, invests in domestic mega projects and global assets, driving much of the diversification effort. 📄 Read-aloud
- Saudization and Foreign Workers Foreigners make up around 40 per cent of the population and most private sector jobs, and quotas push firms to hire Saudis. 📄 Read-aloud
- Women, Youth and Social Change Reforms since 2016 let women drive and join the workforce, and female participation has risen sharply. 📄 Read-aloud
- Fiscal Position, Currency Peg and Debt The riyal is pegged to the dollar, the government has low debt, and its budget depends on oil prices and spending choices. 📄 Read-aloud
- Saudi Arabia's Economy: Recap A recap of the kingdom's oil economy and its attempts to change. 📄 Read-aloud