Transformation program of Saudi Arabia: vision 2030

Abstract

The Vision 2030 Program aims to reduce the dependence to oil revenues of Saudi Arabia, diversify sources of income and carry out radical reforms in social life. There is no doubt that Saudi Arabia, whose budget is largely dependent on oil revenues, is expected to meet the needs of the current oil reserves in the world for about 40-50 years, so that oil revenues are not sustainable, so a comprehensive economic reform is needed. Based on this reality, the Kingdom of Saudi Arabia has launched the Vision 2030 program, which is aimed at increasing the value of nonoil revenues and revealing the next year when oil will not be among the primary energy sources of the world, under the leadership of Crown Prince Mohammed Bin Salman. Although Vision 2030 was prepared based on economic goals, it is considered the beginning of some radical social and cultural transformations. How the society and the different power focuses will respond to these broad transformations will be decisive in the program.