Saudi Arabia has announced new phases of development for its ambitious mega projects as Crown Prince Mohammed bin Salman intensifies efforts to transform the kingdom's economy under the Vision 2030 program. The announcements include significant progress on NEOM, the futuristic city rising from the desert, as well as major entertainment and tourism initiatives designed to diversify away from oil dependence.
The Public Investment Fund, Saudi Arabia's sovereign wealth fund, confirmed investments totaling 50 billion dollars in new project phases scheduled to launch over the next two years. These include the next stage of The Line, the 170-kilometer long linear city within NEOM, which will eventually house nine million residents in a car-free urban environment powered entirely by renewable energy.
Saudi Arabia's tourism sector has exceeded expectations, with the kingdom welcoming over 100 million visitors during 2025 according to preliminary government figures. While most visitors continue to be religious pilgrims traveling to Mecca and Medina, the country has seen substantial growth in leisure tourism to destinations like AlUla, the ancient archaeological site, and the Red Sea coastline resorts.
The entertainment sector has undergone a remarkable transformation since restrictions were lifted in 2017, with major international concerts, sporting events, and cultural festivals now commonplace in Saudi cities. Formula 1 races, boxing championships featuring global stars, and performances by international artists have positioned the kingdom as an emerging entertainment destination.
Critics have questioned the feasibility and cost of the most ambitious projects, particularly as global oil prices have become more volatile. However, Saudi officials maintain that the investments are essential for creating jobs for the country's young population and establishing new economic sectors for the post-oil era.
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