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Vision 2030 is Saudi Arabia's grand plan to transform its economy and reduce its reliance on oil

Almost a century after the country stumbled upon its oil riches, changing times have pushed the House of Saud dynasty to confront the critical turning point it has reached — one that demands another radical transformation.

It's called Vision 2030. By the end of the decade, Saudi Arabia aims to pull off the ambitious, three-pronged feat of creating an economy no longer dependent on oil, improving the lives of its nearly 40 million people, and keeping its place on the global stage.

As the brainchild of the 37-year-old Saudi Crown Prince Mohammed bin Salman, the country's master plan — shaped with the help of McKinsey — has several moving parts, with the standouts being its "gigaprojects."

There are more than 20 other Vision 2030 projects, such as the Red Sea holiday destination and Qiddiya, an arts and entertainment capital — conceived as ways of building a Saudi Arabia that has jobs for all its citizens.

Read the full story at Business Insider

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