US EditionSaudi Arabia’s Formula 1 Pivot Drives Economic Diversification
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Saudi Arabia’s Formula 1 Pivot Drives Economic Diversification
Saudi Arabia’s strategic pivot towards hosting major international events like Formula 1 is more than just a sports venture; it’s a calculated economic maneuver aimed at diversifying the Kingdom’s economy and reducing its reliance on oil. Since debuting its first Grand Prix in 2021, Saudi Arabia has injected over $6 billion into its sports industry, a move that aligns with its Vision 2030 plan to… Source
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