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Saudi Arabia predicts budget deficit as it funnels money into gigaprojects (www.ft.com)

submitted 11 months ago by zephyreks@lemmy.ml to c/worldnews@lemmy.ml

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[-] HobbitFoot@thelemmy.club 2 points 11 months ago

The workers aren't cheap.

[-] trailing9@lemmy.ml 4 points 11 months ago

Don't they use third world migrant workers?

[-] HobbitFoot@thelemmy.club 5 points 11 months ago

They do, but it only works as long as you can subsidize the locals with oil wealth to either not work or work in non-productive jobs.

The native Emirati population in Dubai is only ~300k while the total population of Dubai is ~3,500k. You can sustain that in a single city, but you can't sustain that throughout an entire region.

Saudi Arabia has a population of 32M with an immigrant percentage of 42%. To reach Dubai's ratio, Saudi Arabia would have a population of ~218M. That would be near Brazil or Nigeria. It would also require the country to expand to be able to support an additional 186M.

[-] trailing9@lemmy.ml 2 points 11 months ago

Neom. What do you think they are doing? They don't have to go to 218M but why shouldn't they? Whoever manages to have the next level of urban density first will dominate innovation and attract the brightest minds.