For many years, the monarchy that governs in Saudi Arabia has lived in the midst of opulence and luxury, flaunting its wealth through various kinds of excesses and extravagances that in many cases were really scandalous and absurd. But everything changes, and now they only have to observe the collapse of the futuristic city, because There is a challenge that will end Neom’s dream.
Saudi Arabia wants new sources of income
Saudi Arabia decided that it is time to overcome its oil dependence And that the best alternative to do so is to expand its income through other industries such as tourism and avant -garde technologies. To do this, they conceived a project known as vision 2030, whose purpose is to generate a deep transformation of that nation, which allows it to become a great world reference.
To do this, they have conceived various urban and business centers that will be built with the most innovative methods that currently exist, and that will additionally become models of sustainability and harmonious coexistence with the environment. But apparently, it cannot be carried out, because the collapse of the futuristic city is imminent due to the challenge that will end Neom’s dream.
Oil prices will end the city of the future
In 2016, Saudi Arabia dazzled the world with the presentation of his vision 2030, with which he intends to transform into the main tourist, business and emerging technologies on the planet. An essential part of that project is Neom, which consists in the development of several urban centers with futuristic design, which are now on the verge of collapse due to the reduction of oil prices.
For almost a century, this country has depended economically on its production of fossil fuels, but due to the fundamental role they have had in global warming, because of their high greenhouse gas emissions, many nations are supporting the development of green energy. As a consequence, crude prices have collapsed below $ 100 per barrel.
Y Its current cost of about $ 70 has contributed to reducing income of the Public Saudi Investment Fund, which is the main fund provider for the different constructions related to vision 2030. In fact, some of the works of Neom have already been modified or simply discarded, due to lack of budget (in addition to that it was a dream that ended in a waste of resources).
The images reveal the truth about Neom
The images obtained through the satellites are nothing encouraging for the Neom project, because they show that The works advance very slowly compared to the rhythm they carried in 2023. The main cause is the lack of financing, because in addition to the decrease in oil prices, they have failed to attract enough investors who are interested in contributing their capital.
So they decided to opt for a new strategy to conquer new investors, it is about the organization of two great sporting events and the 2030 World Expo. Although these activities will make many looks in that country, it also means that they will have to make huge expenses to be able to perform them successfully, and that will reduce the budgetary availability of their futuristic city.
In conclusion, the challenge it represents for Saudi Arabia the decrease in the price of oil barrel can end the Neom construction project, due to the fall in the public investment fund and, in fact, some works have already been modified or eliminated (in fact, it is considered a fraud due to the deficit of money and resources it presents).
