Progress and Challenges of Saudi Vision 2030

Since the announcement of Saudi Vision 2030 in 2016, Crown Prince Mohammed bin Salman (MBS) has led bold reforms to modernize Saudi Arabia. Major milestones have been achieved, but significant challenges remain.

Navigating Cultural and Social Reforms

One of the most significant changes in Saudi Arabia has been the opening up to foreign tourists. This shift is marked by a relaxation of travel restrictions, making it safer for visitors to explore immense cities like Riyadh and Jeddah. The futuristic NEOM project, a 500 billion megacity powered by renewable energy and featuring cutting-edge technology, represents the future of Saudi urban planning. While it seems more like a showcase for advanced technology, the ambitious project is a step in the right direction for the country's future.

The socio-cultural reforms have been even more noteworthy. One of the most impactful changes for women has been the lifting of the driving ban, a move that has been celebrated globally. Female labor participation has surged, jumping from 20% in 2018 to over 35% in 2022. However, this progress remains incomplete. Women are still required to obtain male permission for certain activities, indicating that true equality is still a work in progress.

Economic Diversification: An Ongoing Process

Despite these social advances, the economic goals of Vision 2030 are still a work in progress. The country's dependency on oil remains deeply entrenched. MBS has attempted to diversify the economy by encouraging non-oil sectors, but the results have been mixed. The non-oil sector has grown, contributing more to GDP, but oil continues to fund the country's biggest projects, including the management of vital funds like the Public Investment Fund (PIF).

The PIF’s investments have been diversified globally, buying stakes in international assets such as foreign football clubs and luxury hotels. These investments showcase Saudi Arabia’s strategic interests, but they may not fully represent economic diversification as much as they indicate a cautious approach to international investment. MBS has also focused on entertainment, allowing cinemas and large-scale music festivals like the MDLBEAST music festival, to take place. These moves have endeavored to position the country as a modern and forward-thinking nation, while still grappling with the complexities of its leadership.

Challenges and Ongoing Reforms

Lifting cultural and social restrictions is a complex process, and the checks and balances within the Saudi system must evolve to align with these changes. The government still faces criticism from human rights organizations, and methods of dissent are carefully monitored and, in some cases, harshly punished. These realities underscore the need for deeper systemic reforms to match the visible changes.

While Saudi Vision 2030 has undoubtedly made progress, much of it is superficial, with an emphasis on PR and showcasing impactful projects. Genuine transformation requires more far-reaching and systemic changes. The pace and extent of change toward a modern and diversified economy remain uncertain. However, the country's commitment to reform is evident, and the future holds promise.