NEOM and Its Impact on the Future of KSA
Saudi Arabia is experiencing an unprecedented transformation not witnessed since the nation first discovered oil. This transformation, which is being driven by Crown Prince Mohammed bin Salman, is called Saudi Vision 2030.
Part of this grand vision involves the construction of NEOM, a new city that will be located in the north-western part of the country. The 26,500 square kilometre zone will be made up of an array of different environments, including deserts, mountains, and coastlines.
What Will NEOM Be?
In essence, NEOM will be a new model for sustainable living and doing business. The city will be built from scratch and will be powered by renewable energy sources. It will also have its own legal and regulatory framework, which will be based on international best practices. This will make Neom an attractive destination for businesses and investors from around the world. The project includes three distinct proposed regions — Trojena, Oxagon, and The Line.
Built within the mountains, Trojena will be a winter sports destination with ski resorts, hot springs, and glaciers. Oxagon will be an industrial and trading hub, acting as a new focal point for the flow of global trade. The Line, meanwhile, will be a straight line that stretches for 170 kilometres and is 200 metres wide. Perhaps the most ambitious and ground-breaking component of NEOM, The Line will be a car-free zone that connects residents via high-speed rail that can transport residents end to end within 20 minutes. The city will also feature hi-tech infrastructure and buildings, including integrated artificial intelligence (AI) and a controlled microclimate.
The founding principle of NEOM is that quality of life is more important than quantity of stuff. This utopian philosophy will be put into practice through the development of cutting-edge technologies that will make day-to-day living more efficient and seamless. For example, self-driving cars and robots will handle many of the mundane tasks that we currently do, such as cleaning and cooking. This will free up time for people to pursue their passions and lead more fulfilling lives. But most importantly of all, NEOM will be a clean and green city that is designed to have a minimal impact on the environment.
What Will NEOM Mean for Saudi Arabia?
The construction of NEOM is a key part of Saudi Arabia's Vision 2030, which aims to reduce the Kingdom's dependence on oil and transform the economy into one that is driven by knowledge and innovation. As such, NEOM will serve as a test bed for new technologies and ideas that can be rolled out across the country. It is also expected to generate significant economic activity and create over 380,000 new jobs, before eventually becoming home to over 9 million people. In addition to this, NEOM will help to diversify the Saudi economy away from its reliance on oil and gas.
The city will also have a profound impact on Saudi society. It will be a place where people from all over the world can come to live, work and play. This will promote greater cultural understanding and tolerance. Last but not least, NEOM will be a major boost to Saudi Arabia's efforts to attract foreign investment. The city will provide a favourable environment for businesses to operate and offer investors various incentives, such as tax breaks and fast-track visa procedures.
Ultimately, NEOM will help to position Saudi Arabia as a leading global hub for business and investment. By breaking the mould and leading the way in sustainable living and doing business, NEOM has the potential to attract some of the brightest minds and most innovative companies from around the world. It is expected that NEOM will attract billions of dollars of investment in the years to come. With its game-changing vision and ambitious plans, NEOM has the potential to stimulate economic growth, create jobs and transform Saudi Arabia as we currently know it.