Saudi Arabia undergoes economic revolution: Prince Alwaleed bin Talal

Prince Alwaleed bin Talal Al Saud said the transformation taking place in Saudi Arabia is both historic and personal, expressing confidence in the country’s shift toward economic diversification, while referring to the Kingdom’s sweeping social reforms.
 

In an interview with Forbes Middle East, Prince Alwaleed praised Vision 2030, identifying tourism and mineral wealth as the Kingdom’s new economic engines.

“We have everything here—the beaches, the valleys, the archaeology. And it’s working. We’re already welcoming tens of millions of tourists… without alcohol.”
 

Looking ahead, he expressed confidence in the country’s shift toward economic diversification: “We are creating new income streams, and I believe that within five years, Saudi Arabia’s budget will be powered by non-oil revenues.”
 

Commenting on US President Donald Trump's tariffs, Prince Alwaleed said: “These tariffs are tantamount to paralysis. A 145% tariff on China? That’s not negotiation—that’s a freeze in trade.”
 

On artificial intelligence, Prince Alwaleed stressed its sweeping impact across sectors: “AI will impact every industry. If you don’t adapt, you’ll be left behind.”
 

 “New opportunities must be created. This is only the first inning of the revolution,” he noted.