Feb 13

Feb 13 What is Vision 2030 and NOEM scaling back?

Middle East politics , Middle-east, kingdom of saudi arabia

Introduction

Saudi Arabia continues to invest heavily in AI as part of its economic diversification strategy. The main reasons for scaling back some projects are:

Financial Constraints

Declining oil revenues have impacted government funding for mega-projects

The budget deficit was projected at $26.88 billion for 2025, limiting spending capabilities

Challenges in attracting foreign investment to fund ambitious projects

Project Reassessment

Some projects, particularly within NEOM, are being reevaluated due to their ambitious scale and technical challenges

The population projection for The Line has been reduced from 1.5 million to fewer than 300,000 by 2030

Practical Considerations

Technical challenges in constructing a linear city like The Line

Environmental concerns and the need for more sustainable development approaches

Continued AI Investment

Despite scaling back some projects, Saudi Arabia is actually increasing its focus on AI:

A recent $5 billion deal was signed to build an AI data center in NEOM

The kingdom aims to become a global hub for AI, not just a regional one

AI is expected to contribute 12% to the nation’s GDP by 2030

Saudi Arabia is positioning itself to be a key player in the future of AI

Conclusion

Vision 2030 and NEOM projects are being scaled back due to financial and practical considerations, AI investment and economic diversification remain core priorities for Saudi Arabia’s future development plans.

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