Saudi Arabia’s new economy is at risk
Dubai (CNN Business)Saudi Arabia’s young crown prince had a vision for his kingdom: a country with a diversified economy, a booming tourism and entertainment industry and a budding tech hub with some of the world’s biggest names.
Now all that hangs in the balance. Foreign companies are reluctant to do new business with Crown Prince Mohammed bin Salman following the killing of journalist Jamal Khashoggi, and money is fleeing the kingdom.
“Foreign investor sentiment has deteriorated,” said Garbis Iradian, chief economist for the Middle East and North Africa at the Institute of International Finance.
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