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Introduction

In: Business and Economic Development in Saudi Arabia

Author

Listed:
  • J. W. Wright

    (Washington College)

Abstract

The discovery of oil in the 1920s in the Kingdom of Saudi Arabia resulted in a race towards modernisation that was more rapid than any seen outside the Arabian Gulf region. Few economies have witnessed such accelerated economic growth as that caused by infrastructure construction and chattel procurement during the second and third Saudi Five Year Development Plans. As a result the Kingdom’s ports and airports are now among the largest in the world, its road and transportation systems are comprehensive, and its industrial base, particularly the newly constructed facilities in Yanbu and Jubail, is state-of-the-art. Numerous agencies for the development of new businesses are attempting to distribute capital to every sector of the economy. Elaborate university and college systems are educating Saudi citizens in a broad range of disciplines, and thousands of local schools and training programmes are facilitating the transfer of technology to the economy’s private and public sectors.

Suggested Citation

  • J. W. Wright, 1996. "Introduction," Palgrave Macmillan Books, in: J. W. Wright (ed.), Business and Economic Development in Saudi Arabia, pages 1-6, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25096-7_1
    DOI: 10.1007/978-1-349-25096-7_1
    as

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