In November 2019, I was handed a shiny new Saudi residence permit. I’d been traveling in and out of the kingdom for years, reporting on its buildup of trillions of dollars of oil wealth and faltering attempts to diversify the economy.
But this was different. The kingdom was in the midst of a drastic makeover driven by Crown Prince Mohammed Bin Salman, a bold new leader unafraid to do things differently. Saudi Aramco, the oil-behemoth that funded the state, was readying an initial public offering that many thought would never happen. And that wasn’t the only thing to change.
Over the past 10 years, I’ve helped tell the story of how Saudi Arabia has shifted from being almost entirely closed off to foreign capital, culture, and visitors, to a hub for everything from sports to tourism, logistics to commerce, culture to international diplomacy.
Much has changed since my (initially somewhat reluctant) family and I arrived in Riyadh.
Women are working, driving, and mingling with the opposite sex — all strictly banned just a few years ago. Restaurants and cafes buzz with excitement. Tourists are being welcomed with open arms. Foreign investors even more so. The country has become one of the world’s largest construction sites and is set to host a slew of events that will put it at the center of global attention over the next decade.
As one foreign diplomat put it to me recently, the kingdom has become a much happier and more confident place. There’s fun to be had, and that was not often something people said about Saudi Arabia. That’s good for everyone, even expat journalists dragging their kids along to cover a new story.
And the world is watching.
From world leaders like US President Donald Trump, Russia’s Vladimir Putin, and China’s Xi Jinping, to the CEOs of the world’s biggest firms, sports stars, and celebrities, everyone has been flocking to Saudi Arabia to witness its transformation.
To a degree like never before, the future of global finance, energy, technology, geopolitics, and culture crosses through Riyadh.
Yet that future will not be without its challenges. As the past month has shown, the region surrounding Saudi Arabia is volatile. Though the kingdom’s low debt levels are the envy of most other countries, its finances are being stretched by the scale of its ambition. And much-touted foreign investment hasn’t yet arrived at scale.
The last decade may have been fascinating, but the next decade will be crucial. Being right in the midst of this once-in-a-lifetime story, the consequences of which will ripple out across the world, is a privilege. I’m excited to join Semafor, and to bring you along for the ride.