BBC Security Correspondent Frank Gardner, Professor of History Quinn Slobodian, Professor of sport and geopolitical economy Simon Chadwick, and visiting fellow Cinzia Bianco discuss Saudi Arabia's growing global influence, the discovery of oil, Mohammed bin Salman's rise to power, Saudi Arabia's Vision 2030, the construction of NEOM, Saudi Arabia's interest in global sports, and the country's changing foreign policy.
Saudi Arabia's Vision 2030 aims to diversify the economy and reduce dependence on oil income, with Crown Prince Mohammed bin Salman playing a major role in reshaping the nation's diplomatic and military strategies.
Saudi Arabia is leveraging its financial resources to invest domestically in sectors like tourism, renewable energy, and petrochemical repurposing, while also making international investments to secure resilient supply chains and develop breakthrough technologies.
Deep dives
Saudi Arabia's Global Influence and Vision 2030
Saudi Arabia is garnering attention as a potential powerhouse of the 21st century, with its global influence expanding alongside its economic investments. The country's modernization efforts, known as Vision 2030, aim to diversify the economy and reduce dependence on oil income. Crown Prince Mohammed bin Salman has played a significant role in reshaping Saudi Arabia's diplomatic and military strategies, boosting the nation's prominence on the world stage. The Saudi public investment fund, worth $778 billion, has been instrumental in funding initiatives across various sectors, including sports, renewable energy, and high-profile projects like NEOM. The government envisions a future where Saudi Arabia is self-sufficient and a leader in industries beyond oil.
Saudi Arabian Investments and Geopolitical Ambitions
Saudi Arabia is leveraging its financial resources to invest both domestically and internationally, aiming to diversify its economy and secure future revenue streams. Domestically, the country is making significant investments in sectors like tourism, renewable energy, and petrochemical repurposing. At the international level, Saudi Arabia holds stakes in various companies, engages in real estate investments, and forms partnerships with global players like BlackRock. The nation seeks resilient supply chains, securing key commodities, and developing breakthrough technologies as part of its strategy. While these investments carry risks, Saudi Arabia is determined to transition to a more balanced economy and reduce its reliance on oil profits.
Saudi Arabia's Sports Diplomacy and International Engagement
Saudi Arabia has been actively exploring sports as a means of projecting its soft power and increasing its global influence. The country's investment in golf through Live Golf aimed to create a rival tour to PGA and DP, attracting top golfers with lucrative offers. Additionally, Saudi Arabia has attracted high-profile football players to its league with massive salaries. The nation's vision extends to hosting major sporting events like the FIFA World Cup and potentially the Olympic Games. By positioning itself at the center of a new world order, Saudi Arabia seeks to diversify its economy, create jobs, and enhance its geopolitical standing.
With vast financial resources and a new found desire to engage in regional and global diplomacy, Saudi Arabia has got the world's attention. But just how powerful can it become?
David Aaronovitch talks to:
Frank Gardner, BBC Security Correspondent
Quinn Slobodian, Professor of History at Wellesley College and author of Crack-Up Capitalism
Simon Chadwick, Professor of sport and geopolitical economy at Skema Business School in Paris
Cinzia Bianco, visiting fellow at the European Council on Foreign Relations
Safa al-Ahmad, Saudi journalist and documentary maker
Produced by: Ben Carter, Diane Richardson and Kirsteen Knight
Edited by: Richard Vadon
Sound Engineer: Rod Farquhar
Production co-ordinator: Brenda Brown and Sophie Hill
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