Saudi Arabia's Megaproject Disaster!
Patrick Boyle On Finance
Patrick Boyle
4.9 • 308 Ratings
🗓️ 17 March 2025
⏱️ 20 minutes
🧾️ Download transcript
Summary
Saudi Arabia's Neom megaprojects are running into major financial problems according to The Wall Street Journal.After more than $50 billion dollars has been spent the fantasy city has collided with reality.Costs have soared, delays are constant, and the capital expenditure estimates to complete the projects by 2080 have ballooned to $8.8 trillion dollars, which is over 25 times the kingdom's annual budget.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.org
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| 0:43.3 | Saudi Arabia's Vision 2030 plan began its life in 2016 as a white paper. |
| 0:49.3 | It was a fairly dull document filled with a combination of management speak and religious |
| 0:54.5 | references, and it wouldn't shock me if I'm the only person to have read it in full, |
| 0:59.7 | other than maybe the people who wrote it. |
| 1:02.1 | It's the kind of document that's written so that people can point at it in meetings, |
| 1:06.5 | but no one actually reads anything other than the table of contents. |
| 1:10.5 | The White paper sets out |
| 1:12.0 | a goal for Saudi Arabia to become a global investment powerhouse, to transform the country |
| 1:18.3 | into a global hub which it describes as an epicenter of trade and the gateway to the world. |
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