MOH. TALABUL AMAL (2025) SAUDI ARABIA'S DIVERSIFICATION STRATEGY THROUGHTHE RED SEA PROJECT IN FACING THE INTERNATIONAL PETROLEUM COMPETITION. S1 thesis, Universitas Muhammadiyah Yogyakarta.

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Abstract

This paper examines how legal structures in Saudi Arabia have changed to diversify the economy. In this regard, the focus is on developing the tourism sector through the Red Sea Project. Traditionally, the Saudi economy was largely dependent on oil exports, thus prone to volatile markets and inadequate crude oil reserves. However, the instability in the global oil market has posed a threat to the economy, which led the government to kickstart the Saudi Vision 2030 initiative—a much-sought plan that mainly consists of reforms aimed at revitalising sectors outside of oil. This research analyses the problem using the Law and Economics theory, and it seeks to investigate how investment laws and environmental laws are used to establish environmentally friendly investment avenues. The findings show that, although Saudi Arabia’s tourism industry has not been able to bring in revenue as oil does, in the long term, the economy's growth under the legal changes brought by Saudi Vision 2030 will bear fruit. This research contributes to understanding how legal structures can become frameworks for other resource based economies which are particularly seeking sustainable diversification with respect to growth and environmental conservation.Their significance lies in emphasising the importance of properly developed legal means of firm institutional framework for successfully implementing economic resource diversification in non-renewable resource-rich economies. It also shows how such legal reforms could be applied to pursue economic change in countries with resource economies and could serve as a model for such economies that experience similar problems.

Dosen Pembimbing: Ahmad Sahide, Dr., S.IP., M.A. | NIDN0518128401
Item Type: Thesis (S1)
Uncontrolled Keywords: petroleum, economic diversification, tourism sector, red sea project
Divisions: Pasca Sarjana > S2 Hubungan Internasional
Depositing User: M. Erdiansyah
Date Deposited: 22 Feb 2025 07:41
Last Modified: 22 Feb 2025 07:41
URI: https://etd.umy.ac.id/id/eprint/49225

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