Title: Saudi Arabia Economy | Economy Watch
Headings: Saudi Arabia Economy
Saudi Arabia Economy
Economic History
Current Economic Situation
Economic Forecast

Content: Aside from oil production, Saudi Arabia has natural resources that include gold, silver, iron copper, zinc, manganese, tungsten, lead, sulfur, phosphate, soapstone, and feldspar. Saudi Arabia also has a small agricultural sector, and the nation is one of the world's largest producers of dates. Tourism is also an important industry thanks to the millions of pilgrims who flock to Mecca and Medina each year. In fact, although oil revenues hugely dwarf tourism's contribution to the economy, tourism actually employs more people than the oil industry. The government remains a monarchy, which is highly anachronistic to many investors and foreign powers. The feudal system relies on custom, religion, and class status in an intricate manner that most outsiders find bewildering. It creates a system with overlapping, conflicting, and unclear legal standards. Economic Forecast
Saudi Arabia has found itself at odds with ISIS/ISIL. This has led to some investor uncertainty and a shaking of domestic consumer confidence. However, Saudi oil fields continue to produce at record levels, and the global oil industry has experienced an uptick in prices.