Saudi Arabia plans to raise revenues from sources other than oil

[rcjordan]

>black

Welcome to my world.

I was thinking Singapore. (It's one of my sidebar interests in Hanoi. Need to post that in the business agenda.)
https://www.stb.gov.sg/industries/healthcare

[Brad]

>medical tourism

Bingo.  Doesn't have to be beyond state of the art, just state of the art and enough cheaper than US medical and you got something.  Depends on insurance industry and treatment pre approval: "we won't pay for $400K surgery in US, but if you fly to Oslo you can get the same surgery for $200K and we'll pay."

[rcjordan]

>just state of the art and enough cheaper

Not be be discriminating against whites, it needs Asians. DE or Scans would be second choice.

<added>
state-of-the-art
cheap
DE or Scans

Pick 2

[Leona]

Yes they are looking into promoting business (the building of the finance district alone will bring in a huge chunk of revenue) and reduce dependency by increasing employment with saudization (benefits are very good out here). There is a lot of opportunity here so business growth will continue even with the difficulties that come with growing a business here.

It is true they are also looking at starting some taxation on sales which will be unpopular as many products are more expensive here due to the lack of manufacturing. However, I wouldn't discount them yet. What a lot of people don't realise is that they have cherry picked oil traditionally, however, they have massive resources of other raw materials which they plan to upscale the mining of. I don't think the Saudi Royal Family will be going poor any time soon!

[nffc]

'My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel'

[littleman]

I feel like that is particularly true for Dubai, it just feels like it will be a wasteland in a generation or two.

[rcjordan]

>camel

http://www.bloomberg.com/news/articles/2016-09-27/saudi-stocks-drop-on-bets-austerity-to-hurt-service-providers

[rcjordan]

>his son will drive a Land Rover, but his son will ride a camel

U.S. crude oil output hits 11 million barrels per day for first time ever

https://www.reuters.com/article/us-usa-oil-eia/u-s-crude-stocks-up-production-hits-11-million-barrels-per-day-eia-idUSKBN1K81XT

[aaron]

I could make an argument that being able to generate nearly unlimited amount of nearly free energy coupled with dirt-cheap, ubiquitous communication might reverse that.  And, if I can lower my cost of living by extraordinary amounts, do I care quite so much about what I'm going to be doing to make a dollar?

I've thought this way about the web for ages. Even the big players mention it, yet they keep hiring from the valley.
https://www.recode.net/2018/7/18/17575158/mark-zuckerberg-facebook-interview-full-transcript-kara-swisher

We've talked a lot about the social aspects of all of this, but I think one of the biggest issues economically today is that opportunity isn't evenly distributed. You get all these people have to move to cities, and then the cities get to be way too expensive, and if you have a technology like VR where you can be present anywhere but live where you choose to, then I think that that can be really profound.

There're really only a few solutions to this. Historically, cities have grown to be bigger by building better physical infrastructure. There'll be some amount of that. I mean, I think things like hyperloops and things like that can extend the suburbs, could be quite interesting, but I have to believe that, we're here in 2018, it's much cheaper and easier to move bits around than it is atoms. It strikes me that something like VR or AR, or even video conferencing on the path to that, has to be a more likely part of the solution.

There are private equity firms which focus almost exclusively on buying embedded mission-critical software companies & enhancing margins through a combination of price hikes to their customers & then moving employment out of the bubble areas of the economy to cheaper locations.
https://www.wsj.com/articles/billionaires-secret-buyout-formula-110-instructions-and-an-intelligence-test-1531151197

[rcjordan]

>his son will ride a camel

Gulf's financial wealth could be over in 15 years: IMF - Reuters
https://www.reuters.com/article/us-gulf-economy-imf/gulfs-financial-wealth-could-be-over-in-15-years-imf-idUSKBN2002HZ

[Rupert]

I wonder how this has changed now.

[littleman]

I'm far from an expert on oil production, but it might be that after this economic downturn does its damage SA may actually be in a better position than before CV19.  Much of the production in North America and Russia will be capped off due to lack of profit.  The SA's big advantages are that their cost per unit is much lower and their oil quality is much higher than the rest of the world.

[rcjordan]

>his son will ride a camel

IMF predicts worst Mideast downturn in half century
https://techxplore.com/news/2020-07-imf-worst-mideast-downturn-century.html

[rcjordan]

Twilight of an era - The end of the Arab world's oil age is nigh | The Economist
https://www.economist.com/middle-east-and-africa/2020/07/18/the-end-of-the-arab-worlds-oil-age-is-nigh

[rcjordan]

Oil nations tipped for political instability if fossil fuels abandoned

https://www.cnbc.com/2021/03/26/oil-nations-tipped-for-political-instability-if-fossil-fuels-abandoned.html