Sunday, April 2, 2023

Saudi Arabia outperforms Dubai

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Combining modernity and tradition: Saudi Arabia is trying to do this in numerous areas. Pictured: The Maraya concert hall, which has already been built, in the Al-Ula oasis, a new tourist hotspot in the country.


Jean Claude RaemyEditor Economics

“Saudi Arabia is the new big player in the Gulf.” That says Suhail El Obeid (45), Senior Consultant Middle East at the foreign trade promoter Switzerland Global Enterprise (SGE) in Zurich. The Emirates are still Switzerland’s most important trading partner in the Middle East. But that will hardly last.

Saudi Arabia is in the midst of a major upheaval. For 60 years the country was focused on oil production. But these reserves are finite, and the price of oil is volatile. In addition, non-fossil fuels are becoming more and more popular in the face of climate change.

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