Oil is being dethroned in Saudi Arabia by this new shiny thing

Description

Once hailed as the beacon of the world’s oil industry, Saudi Arabia is rapidly pivoting to an unlikely successor to its liquid gold throne – international sports. With deep pockets and a burning ambition, the Saudi leaders have set their sights on the glamour and allure of the world’s most beloved games to revolutionize their … Read more

Once hailed as the beacon of the world’s oil industry, Saudi Arabia is rapidly pivoting to an unlikely successor to its liquid gold throne – international sports.

With deep pockets and a burning ambition, the Saudi leaders have set their sights on the glamour and allure of the world’s most beloved games to revolutionize their national image and economy.

A Soccer Revolution in the Desert Kingdom

Yes, the oily sheen of Saudi’s wealth is making waves in the football world. Forget the quiet pilgrim trails of Mecca and Medina for a moment; the spotlight now also dances on the football pitches where international legends like Christiano Ronaldo and Neymar Junior now play.

The staggering transfers of these athletes to Saudi football clubs like Al Nassr and Al Hilal are not just about the sport; they’re symbolic of a nation’s intent to diversify and redefine.

But it’s not just Ronaldo and Neymar. A tide of talent is flowing towards Saudi Arabia. Karim Benzema, with his exceptional footwork, now weaves magic for Al Ittihad. These aren’t mere transfers; they’re statements.

When nations want to make their mark, they leave no stone unturned, and certainly, no wallet unopened. With these signings, Saudi isn’t just aiming for goals on the pitch; they’re eyeing a whole new economic and cultural frontier.

Beyond the Field: The 2030 Vision

Yet, the transition is far more profound than the transfer market’s buzz. This aggressive venture into sports isn’t some random spree; it’s a calculated move, many believe, architected by the dynamic Crown Prince, Mohammed bin Salman.

His blueprint, the “Saudi 2030 Vision,” is not merely about bringing world-renowned athletes to the Saudi dunes. It’s an emblem of a broader agenda, which involves shedding the single-tag image of an oil giant and emerging as a multifaceted modern economy.

However, as with any massive transformation, there are critics. Some argue that this newfound love for international sports is a smokescreen, a clever distraction from the more uncomfortable conversations about Saudi’s human rights track record. Is the soccer ball being used to divert eyes from issues that matter? It’s a question that lingers, casting a long shadow over the dazzling stadiums.

Oil, for decades, flowed as Saudi’s lifeline, fueling its economy and global stature. While it continues to be the bedrock of their wealth, the Saudi leaders seem to be reading the writing on the wall. In a world grappling with environmental concerns, where renewable energy is gaining ground, it’s no longer prudent to have all your eggs in the oil basket.

However, if Saudi’s bet on sports is to be seen purely as an economic diversification strategy, it may be an oversimplification. It’s also about prestige, influence, and a seat at the table of cultural soft power. By making a foray into the world of sports, Saudi is not only inviting tourists but also challenging global perceptions.

Bottomline is while oil wells and rigs define Saudi’s past and present, football pitches, athletes, and roaring stadiums might very well shape its future. The realm of international sports, with its glitz and global appeal, is Saudi’s latest ambition. Whether this shift is purely strategic, a cloak for deeper issues, or a genuine passion remains a topic for heated debates. One thing is clear, though: the game is on, and Saudi is playing to win.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Oil is being dethroned in Saudi Arabia by this new shiny thing

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月13日 00:35
Next 2023年9月13日 01:37

Related articles

  • Bank of Russia unveils digital ruble details, logo, and fee structure

    TL;DR Breakdown The Bank of Russia revealed the logo and fees for the digital ruble. All services will be free until 2025. The central bank does not expect mass adoption of the digital ruble before 2025 or 2027. It will co-exist with other forms of rubles. Russia’s move to embrace digital currency comes amid economic challenges, marking a significant step in modernizing its financial system. Description On August 3, the Bank of Russia (BoR) unveiled the logo and details surrounding the country’s central bank digital currency (CBDC), the digital ruble. The logo consists of an international ruble symbol in a circle and comes in four basic color combinations. The BoR has also laid out its fee structure for various operations related … Read more On August 3, the Bank of Russia (BoR) unveiled the logo and details surrounding the country’s central bank digital currency (CBDC), the digital ruble. The logo consists of an international ruble symbol in a circle and comes in four basic color combinations. The BoR has also laid out its fee structure for various operations related to…

    Article 2023年8月5日
  • SEC’s probe on Binance.US was initiated in 2020, recent court filings reveal

    TL;DR Breakdown Court filings reveal SEC’s 2020 investigation into Binance.US, indicating long-term scrutiny. SEC’s probe centers on alleged securities law violations and substantial profits by Binance.US. Lawsuit filed by the SEC targets Binance.US, its entities, and its CEO, seeking an asset freeze. Binance.US, the American arm of the global cryptocurrency exchange Binance, is under investigation by the U.S. Securities and Exchange Commission (SEC) for possible violations of federal securities laws. Court filings released on Tuesday revealed that the SEC has been scrutinizing Binance.US since 2020, with evidence pointing to hundreds of millions of dollars in illicit profits. In a lawsuit filed on Monday, the SEC accused Binance’s U.S. and global entities, as well as its CEO Changpeng “CZ” Zhao, of operating an unregistered securities exchange by facilitating the trading of cryptocurrencies. The regulatory body has subsequently sought to freeze Binance.US assets, intensifying the legal battle between the crypto exchange and the SEC. According to court filings, the SEC initiated an internal investigation and assigned officials to gather testimony starting on August 17, 2020. Colby Steele, a lawyer representing the SEC,…

    Article 2023年6月12日
  • Terra co-founder’s handwritten letter sparks political firestorm in Montenegro

    TL;DR Breakdown A handwritten letter by Terra co-founder Do Kwon surfaces, sparking a political firestorm in Montenegro. Allegations suggest undisclosed ties between Kwon and former Finance Minister Spajić, raising concerns about potential consequences for Montenegro. Prime Minister Abazović refutes Spajić’s denial, expressing doubts about the former minister’s integrity. In a shocking turn of events, a handwritten letter penned by Do Kwon, co-founder of the blockchain platform Terra, has emerged, stirring a political firestorm in Montenegro. The message, addressed to outgoing Prime Minister Dritan Abazović and outgoing Justice Minister Marko Kovac, alleges a previously undisclosed connection between Kwon and former Finance Minister Milojko Spajić, who also serves as the president of Europe Now political party. Prime Minister Abazović claims to have read Kwon’s letter and swiftly forwarded it to the Special State Prosecution Office. The letter proposes that Kwon had financed the Europe Now political party, leading to calls from political parties, NGOs, and the public to investigate these purported links between the Terra co-founder and Spajić. The gravity of the situation became apparent as Prime Minister Abazović expressed concern over…

    Article 2023年6月12日
  • Balancer DeFi protocol faces another attack: Over $238,000 in cryptocurrency allegedly stolen

    TL;DR Breakdown Balancer’s front end was targeted in an attack, leading to user wallets being drained via a malicious contract. This is the second major security incident in a month for Defi protocol, with an earlier vulnerability leading to a $2 million exploit. Description In a distressing development for the cryptocurrency community, the Ethereum-based decentralized finance (DeFi) protocol, Balancer, recently faced a serious security breach. This comes just weeks after Balancer warned its users of a critical vulnerability. The platform has now again urged its users to refrain from interacting with its interface due to this new attack. Contents … Read more In a distressing development for the cryptocurrency community, the Ethereum-based decentralized finance (DeFi) protocol, Balancer, recently faced a serious security breach. This comes just weeks after Balancer warned its users of a critical vulnerability. The platform has now again urged its users to refrain from interacting with its interface due to this new attack. Contents hide 1 Sophisticated attack targeting user wallets 2 Analysts estimate a hefty loss 3 A troubling month for balancer 4 Conclusion Sophisticated attack…

    Article 2023年9月20日
  • Japan start-ups to ditch stocks for crypto – Details

    TL;DR Breakdown Japan is transitioning from traditional stock-based fundraising for startups to cryptocurrency-based methods. Historically slow in digital asset adoption, recent moves show Japan’s growing openness to cryptocurrencies. Financial Services Agency (FSA) seeks to amend tax codes to favor businesses dealing in cryptocurrencies. Description Shifting gears in the financial landscape, Japan is breaking from its conservative stance on cryptocurrency. A nation traditionally seen as a stronghold of stock-driven fundraising for startups now stands on the cusp of a revolutionary transformation. Instead of going the stock route, young enterprises in the Land of the Rising Sun are gearing up to … Read more Shifting gears in the financial landscape, Japan is breaking from its conservative stance on cryptocurrency. A nation traditionally seen as a stronghold of stock-driven fundraising for startups now stands on the cusp of a revolutionary transformation. Instead of going the stock route, young enterprises in the Land of the Rising Sun are gearing up to raise public funds via the issuance of digital assets, including cryptocurrencies. A New Dawn for Digital Assets Over the years, Japan has been…

    Article 2023年9月16日
TOP