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

  • Western economies doomed by de-risking from China

    TL;DR Breakdown ‘De-risking’, a buzzword suggesting the West’s potential distancing from China, could backfire and harm Western economies. ‘De-risking’ mirrors the West’s intent to hinder China’s economic rise. Replacing China’s trade and investment partnership immediately is unfeasible due to its established global economic and technological prominence. Description A new buzzword, ‘de-risking’, is entering the economic vernacular of the West, and its implications could prove disastrous for these economies if it translates into distancing from China. This move follows the 10th anniversary of China’s Belt and Road Initiative (BRI), a global platform for cooperation that has gathered significant recognition and has been appreciated … Read more A new buzzword, ‘de-risking’, is entering the economic vernacular of the West, and its implications could prove disastrous for these economies if it translates into distancing from China. This move follows the 10th anniversary of China’s Belt and Road Initiative (BRI), a global platform for cooperation that has gathered significant recognition and has been appreciated worldwide for the solutions it offers to global development and governance reform. The de-risking dilemma Over the last couple of…

    Article 2023年6月23日
  • Law Enforcement and Binance Join Forces to Thwart North Korean Organized Crime 

    TL;DR Breakdown U.S. law enforcement, in collaboration with the Binance Investigations team, successfully seized $4.4 million and froze accounts associated with North Korean organized crime. The operation, conducted in compliance with lawfully served warrants, highlights the commitment of authorities to safeguarding financial systems. In a significant victory against North Korean organized crime, the United States law enforcement, in conjunction with the Binance Investigations team, successfully seized $4.4 million and froze several accounts linked to illicit activities. This noteworthy accomplishment highlights the unwavering commitment of both law enforcement agencies and the cryptocurrency exchange in combating crime on a global scale. The operation, conducted in compliance with lawfully served warrants and through robust collaboration with authorities, underscores the effectiveness of proactive measures taken over a year ago. Contents hide 1 Joint Efforts Yield Fruitful Outcomes and Disrupt Criminal Networks 2 Upholding the Law, Promoting Global Security, and Safeguarding Financial Systems 3 Collaboration between government agencies and private sector entities 4 Conclusion Joint Efforts Yield Fruitful Outcomes and Disrupt Criminal Networks The collaborative efforts between U.S. law enforcement and the Binance Investigations team…

    Article 2023年5月26日
  • Binance’s chief risk officer and legal head step down

    TL;DR Breakdown Binance faces increased regulatory scrutiny; top executives depart. Krishna Juvvadi (Head of Legal) and Sidney Majalya (CRO) resign. Both had critical roles, especially amidst the SEC’s allegations of illegal U.S. trading operations. Their departures follow the CEO’s resignation earlier in the week. Description Binance, the renowned crypto exchange, has seen a whirlwind of executive exits as regulatory storms intensify on its U.S. arm. The latest shockwave? The departure of their Chief Risk Officer (CRO) and the Head of Legal. And if these seismic shifts within the company’s foundations are any indication, Binance may be facing unprecedented challenges ahead. … Read more Binance, the renowned crypto exchange, has seen a whirlwind of executive exits as regulatory storms intensify on its U.S. arm. The latest shockwave? The departure of their Chief Risk Officer (CRO) and the Head of Legal. And if these seismic shifts within the company’s foundations are any indication, Binance may be facing unprecedented challenges ahead. Navigating the Regulatory Gauntlet Regulatory authorities have Binance firmly in their crosshairs, and it seems the heat is turning up. This ongoing…

    Article 2023年9月15日
  • Crypto hackers shift additional $328M in stolen funds- Reports

    TL;DR Breakdown Hackers responsible for the $41 million hack of cryptocurrency casino Stake have managed to shift an additional $328 million worth of assets. The recent transfers involved 300 Binance Coin (BNB) tokens, valued at approximately $61,500, which were sent to an externally owned address with the identifier “0x695.” Description In a continuing saga of cryptocurrency thefts and exploits, hackers responsible for the $41 million hack of cryptocurrency casino Stake have managed to shift an additional $328 million worth of assets, according to blockchain security firm CertiK. This latest development follows the initial exploit that occurred on September 4, which resulted in the theft of … Read more In a continuing saga of cryptocurrency thefts and exploits, hackers responsible for the $41 million hack of cryptocurrency casino Stake have managed to shift an additional $328 million worth of assets, according to blockchain security firm CertiK. This latest development follows the initial exploit that occurred on September 4, which resulted in the theft of a substantial amount of digital assets. The recent transfers involved 300 Binance Coin (BNB) tokens, valued at…

    Article 2023年9月13日
  • Why is Twitter beefing with Elizabeth Warren?

    TL;DR Breakdown Twitter is challenging a consent order with the FTC and plans to subpoena Senator Elizabeth Warren. This move comes after Elizabeth Warren urged the FTC to investigate the social media company’s privacy policies. Twitter, under Elon Musk, has made significant changes including staff cuts and content moderation policy shifts, leading to a drop in ad revenue. Description The tension between Twitter and Senator Elizabeth Warren is intensifying as the social media behemoth is set to challenge a consent order with the Federal Trade Commission (FTC), creating ripples of conflict in the socio-political landscape. The crux of the matter revolves around accusations from Twitter towards the FTC of bias and overreach, sparking off … Read more The tension between Twitter and Senator Elizabeth Warren is intensifying as the social media behemoth is set to challenge a consent order with the Federal Trade Commission (FTC), creating ripples of conflict in the socio-political landscape. The crux of the matter revolves around accusations from Twitter towards the FTC of bias and overreach, sparking off this intriguing dispute. Twitter’s FTC face-off and the…

    Article 2023年7月22日
TOP