Research trip reflections: the impact of a changing Saudi Arabia and differing approaches to the oil windfall

GULF COUNTRIES - Report 28 Mar 2022 by Justin Alexander

I've just completed a 3-week 6-country tour around the GCC to take a sounding of the mood as Covid cases and restrictions ease. I had dozens of meetings with academics, officials, journalists, business leaders, investors and others, whose time, insights and hospitality I greatly appreciate. Travelling at a time of flux, I learned many new things about each state, even after 15 years focused on the region. Two key themes came up in almost every discussion: the implications for neighbors of the major social and economic changes in Saudi Arabia and how the current oil windfall will be used. There were also many other common topics ranging from longstanding themes, such as job creation for nationals and the energy transition, through to specific concerns about some sectors that might struggle to fully recover post Covid and could lead to credit defaults.

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