Women are Key to Saudi Arabia’s Economic Future
Saudi Arabia has no income taxes or corporate taxes because the kingdom has been collecting substantial oil revenues since 1938. Oil price volatility has left the government with a growing budget deficit, and many nations are actively phasing out fossil fuels by limiting gasoline vehicle sales. This is very bad news for a country that receives nearly 90% of government revenues from oil. In order to avoid economic problems in the future, Saudi Arabia is making major legal and social reforms to prepare for a post-oil world economy. As a result, the historically traditional nation is modernizing with a great sense of urgency.
To diversify away from oil, the Saudi labor ministry has enacted policies to add millions of jobs in construction, transportation, tourism, consumer goods, and real estate markets. Mobilizing the female workforce will be necessary to fill these new jobs
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