Saudi arabian economy essay

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Saudi arabian economy essay

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Globalization however does not bring positive effects only but negative effects have been experienced as a result of the globalization of Saudi Arabia.

This is in terms of culture mostly. The positive effects have been experienced in relation to economy, education, technology among other positive effects that will be discussed below. The country has for a very long time resisted any changes in its functioning and especially in relation to any global idea that might change its ultra-traditional system.

This has however been recently changing and Saudi Arabia is emerging to be a big global competitor Ramady, With the increase in the market of oil all over the world, changes had to take place in the country that for a very long time had refused to be developed.

Saudi arabian economy essay

Its leaders in government started seeing the need to develop modern building and other architecture to not only reflect their culture but also compete with the rest of the world.

Modern buildings for residential and commercial purposes like industries started coming up. The new buildings construction also necessitated good transportation systems and hence roads, railways and finally airlines started to develop and have since been flourishing.

These developments opened up the nation to foreign investors in different sectors like insurance, trade, education and technology among other crucial areas of the Saudi Arabian economy.

Globalization effects have also been felt in the education sector. Initially, Saudi had no good education system and syllabus and therefore after it started trading its oil in the global market, Saudis were migrating to countries like United States in order to seek basic but mostly higher education due to lack of competitive and quality education in their country.

This had the effect of bringing in US retailers in the country and the leaders did not like this very much. The Saudi universities were listed among the worst universities in the world and hence their King opted to change that.

It however had to start with the basic education curriculum and moved upwards towards university level. Technologically, Saudi has outrun most Islamic countries and is now competing with other European nations in technological manufacture and production and not relying much on importation.

With development of transport system came about development of communication system as well. Currently, the country manufactures its own microchips and computers and exports them at a cheap price to mostly third world countries.

They have opened up their communication by development and constant usage of email and internet to catch up with the rest of the world. This has been possible through the ever increasing investors in that country and the dedication of their leaders to better their nation.

All these global developments have increased the tourists in that region and hence mixing their cultures and traditions. This is viewed as one of the negative effects globalization has brought about by most Saudis.

Westernization has increased in that country and women who were previously not empowered are now empowered and this is not good news to many Saudi men. This is because Saudi Arabia is a pure patriarchal society and hence women empowerment and feminism movements are threatening this patriarchy in the society.

Globalization has also brought about mixture of religion in this previously fully Islamic nation. This is because of the increase in foreign investors and the intermarriages between the Saudis and the investors.Also, the Hubbert Peak Theory, which foretells the downslide in Saudi Arabian oil production, warns of the possible collapse of the oil industry's which will considerably reduce or even eliminate the significance oil to the country.

This paper will look at the economy of Saudi Arabia as a whole. The Saudi prince has been rated as one of the richest people in the world with a net of over $30 billion in assets.

Works Cited. Ramady, Mohamed.

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The Saudi Arabian Economy: Policies, Achievements, and Challenges. New Jersey: Springer, The Saudi Arabian government is politically divided into fourteen emirates also known as provinces.

These emirates are headed by brothers, sons, nephews and next of kin of the King who currently is king Abdullah. Current issues dealing with the government and political situation in Ethiopia, as well as human rights, freedom of the press and the future of Ethiopia and its people. As a follow-up to Tuesday’s post about the majority-minority public schools in Oslo, the following brief account reports the latest statistics on the cultural enrichment of schools in Austria.

Saudi arabian economy essay

Vienna is the most fully enriched location, and seems to be in roughly the same situation as Oslo. Many thanks to Hermes for the translation from initiativeblog.com Saudi Arabia’s economy, social situation and religion are similar to those of other Arab Gulf countries (Kuwait, Qatar, UAE, Oman, and Bahrain) but Saudi .

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