Beyond borders: How Saudi investment is shaping the world

A new energy is surging through Saudi Arabia, one that goes beyond oil and into the boundless realm of ambition. The World Economic Forum’s special meeting in Riyadh was more than just a gathering of minds; it was a powerhouse for ideas and partnerships. As a Saudi citizen, I see this surge as proof of our nation’s determination to fuel not only our own prosperity, but also inspire a brighter global future.

Guided by the visionary blueprint of Vision 2030, the Kingdom’s determined journey toward economic diversification holds the potential to create a more robust and sustainable Saudi economy, while also setting an inspiring example for emerging nations worldwide. This plan prioritizes investment in non-oil sectors, tourism, technological innovation and the empowerment of our human capital — driving forces behind a secure future.

The World Economic Forum’s presence in Riyadh was not merely symbolic — it was a strategic move by both sides. Saudi Arabia aimed to showcase its advancements, attract investments that aligned with its diversification objectives, and establish its position as a key participant in discussions about energy transitions and international cooperation. It was a bold gamble on the global stage, and from my perspective, the Kingdom is playing a winning hand.

For too long, Saudi Arabia’s economic might was synonymous with oil. While our energy resources remain important, Vision 2030 dares to envision a future where innovation, tourism and a multitude of sectors drive our prosperity. The rise of NEOM, our futuristic megacity, symbolizes the bold, innovative thinking at the heart of Vision 2030. There are challenges, of course. Bureaucracy, lingering dependence on oil and global economic shifts are hurdles to overcome. Yet, the potential is undeniable. Our youthful population, strategic location and ambitious drive make me optimistic about achieving the targets laid out in Vision 2030.

Traditionally, we may have been seen as a developed economy. Now, we are doing something more exciting: Creating a hybrid of established power and emerging market dynamism. This unique position allows us to not only build our own future, but also offer guidance to other nations seeking to diversify their economies. The lessons we learn, both from our triumphs and our stumbles, can serve as a blueprint for the world.

Diversification is easier said than done. Sadly, factors like political instability, corruption and inadequate infrastructure cripple the aspirations of many nations. Yet, the path to diversification is strewn with obstacles. Take the issue of infrastructure. While Saudi Arabia benefits from substantial investment in roads, ports and digital networks, many developing nations lack the resources for such fundamental building blocks. This is where collaboration becomes vital.

By sharing expertise and potentially partnering on infrastructure projects through initiatives like the Belt and Road, the Kingdom can play a significant role in unlocking the economic potential of less-developed regions. It is about recognizing that progress is not a zero-sum game; a more interconnected and prosperous world ultimately benefits us all. Saudi Arabia is fortunate to be navigating this journey with resources and relative stability. Yet, our success does not happen in a vacuum. By building partnerships, sharing knowledge and championing responsible development, the Kingdom can help create a world where the benefits of economic transformation do not stop at our borders.

The economic evolution underway in Saudi Arabia is, at its core, a story of ambition and possibility. It is about a nation refusing to be defined solely by its past and instead stepping confidently toward a future it builds for itself. The World Economic Forum meeting in Riyadh was a spotlight on this journey, and the progress made so far fills me with pride.

While the road ahead will not be without challenges, I firmly believe that Saudi Arabia’s transformation is not only good for us, but also a harbinger of positive change for economies around the world.

• Abdulelah S. Al-Nahari is a business and MarCom partner at a marketing solutions firm and leads strategic growth initiatives in line with Saudi Arabia’s digital-first vision. He has multi-sector awareness, strategic digital foresight and a range of industry experience.