“Saudi Arabia is not the first petrostate in the Middle East to attempt a move away from hydrocarbons. For several decades, other Arab economies have pursued similar diversification efforts with little success. A notable exception is Dubai, which reinvented itself as a logistics center, tourist destination, and offshore finance hub to offset declining oil reserves. But the city-state model that has succeeded elsewhere may not be scalable, which is why policymakers in the region and beyond will closely watch the ambitious development program in Saudi Arabia, a country with nearly 37 million inhabitants.” Saudi Arabia’s Great Transformation [Zawya]