The Transition Of Saudi Arabia From A Resource Based Economy To A Knowledge Based Economy

This book provides valuable insights into the Kingdom of Saudi Arabia (KSA) through a comprehensive examination of Vision 2030, an ambitious economic plan by the KSA to reinvent and diversify its economy from a heavy dependence on hydrocarbon to knowledge-based resources. Research, Innovation and Entrepreneurship in Saudi Arabia: Vision 2030 discusses how this initiative will assist the government in achieving its envisioned goals by creating a culture of research, innovation and entrepreneurship. It studies the current state of the field as well as new policies and reforms in Saudi Arabia which encompass education systems, ICT infrastructure and a vibrant innovation landscape that includes academia, the public and private sectors and civil society. The authors present a number of real-life case studies as a model of inspiration for cross-sector development. The book provides a source of inspiration for other nations in studying the KSA’s determined and ambitious plans as a country in a transitioning journey, from a natural resources-based economy towards a knowledge-based country with considerable diversification in all sectors. This book is a useful reference for students, researchers and policy and decision-makers in understanding Saudi innovation and the economic diversification ecosystem.

Over-reliance on oil challenges the long-term sustainability of an economy. The UAE’s government has placed considerable focus on a comprehensive strategic planning exercise to transform the country’s economic structure from relying heavily on hydrocarbon resources to becoming a knowledge-based economy. Non-oil is to account for 80% of the country’s economy by 2021. From Oil to Knowledge examines the role of this major powerhouse of the Arab World to transform itself into a leader in the adoption of science, technology and innovation to drive economic success on the international stage.In this first book to present and critically evaluate the extent of the UAE’s success in diversifying its economy and implementing the principles and approaches of a Knowledge Economy, the authors identify the achievements of the government to date and the areas of further development. From Oil to Knowledge will be utilized as a guide by policymakers and senior managers to enhance their ability to think strategically towards implementing the pillars of a Knowledge Economy within their own organisations and nation states.

This book is about Saudi Arabia's efforts to overhaul its economy and the numerous prospects and challenges it faces in doing so. As one of the world's leading oil producers, the outcomes of the most ambitious wave of reforms Saudi Arabia has ever undertaken will provide valuable lessons not only for the kingdom itself but also for other oil-dependent and resource-based economies. Since 2016, Saudi Arabia has embarked on an unparalleled economic - if not social and political - transformation project with an ultimate aim of diversifying away from oil. New sources of growth such as tourism, industry, and entertainment have been identified, but it remains to be seen whether these will be enough to sustain the economy in the post-oil era. Reforms, including lowering energy subsidies, instituting VAT, and introducing indirect taxes on labor and businesses, have already produced notable results. Looking ahead, the economy requires rigorous and continuous processes of severe competition amongst its private sector participants as well as strong institutions. It also requires creative destruction to be allowed to run its course within the wider economy. The economic reform experiment undertaken by Saudi Arabia remains the most sweeping among emerging market economies - and certainly in the entire Middle East. The changes are all encompassing and involve a complex redrawing of the political, economic, religious, and social map.

The Saudi Arabian economy has changed almost beyond recognition since the oil boom days of the 1980s, and the Kingdom itself has changed too economically, socially, and demographically. In the second edition of The Saudi Arabian Economy, Mohamed Ramady uses several overlapping themes to establish and develop a framework for studying the fundamental challenges to the Saudi economy. Particular attention is paid to the benefits of short-term planning and long-term diversification intended to shield the economy from potentially de-stabilizing oil price fluctuations and the pace and diversity of domestic reforms. The author examines the core strengths and evolution of various financial institutions and the Saudi stock market in the face of globalization, before analyzing the private sector in detail. Topics discussed include: • The hydrocarbon and minerals sector, including the emergence of the competitive petrochemical sector • The impact of small and medium sized businesses and the evolving role of “family” businesses • The growing role of women in the Saudi economy • The role of privatization and FDI as engines of change and the position of public-private-partnerships • The establishment of a foundation for a knowledge-based economy Finally, the author offers an analysis of the key challenges facing the Saudi economy, paying particular attention to the potential costs and benefits of globalization, and membership in the WTO. Employment, education, economic and social stability, and Saudi Arabia’s place in the Gulf Cooperation Council, as well as Saudi Arabia’s evolving strategic economic relations with China and other countries are offered as keys to the consensus building needed to ensure the Kingdom’s healthy economic future.

"This book focuses on knowledge economy as the most important engine for economic growth and development under the globalizing world economies and analyzes the major issues that constrain further access to knowledge economy in the Arab countries"--

This volume investigates the agendas and initiatives for using education to transition Gulf communities from being dependent on natural resources into knowledge societies. This volume presents information, case studies and empirical research about the development of information-based economies across the Arabian Gulf as a whole.

We live in the era of the knowledge-based economy, and this has major implications for the ways in which states, cities and even supranational political units are spatially planned, governed and developed. In this book, Sami Moisio delves deeply into the links between the knowledge-based economy and geopolitics, examining a wide range of themes, including city geopolitics and the university as a geopolitical site. Overall, this work shows that knowledge-based "economization" can be understood as a geopolitical process that produces territories of wealth, security, power and belonging. This book will prove enlightening to students, researchers and policymakers in the fields of human geography, urban studies, spatial planning, political science and international relations.