Saudi Arabia & Israel: A Symbiotic Partnership for Vision 2030?

The Transformative Potential of an Abraham Accords Deal

Whispers of a potential Abraham Accords deal with Saudi Arabia often overlook a crucial element: the Kingdom's ambitious and costly redevelopment program, Saudi Vision 2030. Launched by Crown Prince Mohammed bin Salman (MBS) in 2016, this program aims to revolutionize the nation by its centennial in 2032. Normalization with Israel could be the key to unlocking Vision 2030's full potential, propelling the Kingdom from oil dependence to a diversified, thriving modern society.

Vision 2030: A Kingdom Transformed

Saudi Vision 2030 is a sweeping initiative encompassing hundreds of projects, from privatizing economic sectors and attracting foreign investment to streamlining government services and building futuristic cities. The 2019 IPO of Saudi Aramco, raising a record-breaking $29.4 billion, stands as a testament to the program's ambition.

Eight years in, Vision 2030 is making strides. Non-oil GDP contributions have reached a record 50%, and investments in renewables position Saudi Arabia as the fastest-growing market outside China. Mega-projects like the futuristic city of Neom and the Red Sea tourism project exemplify the scale of transformation envisioned.

Where Israeli Expertise Can Shine

While Saudi Arabia excels in hosting millions of pilgrims annually, Israeli expertise in global tourism could be invaluable for projects like the Red Sea Project. Similarly, Israel's prowess in hi-tech, particularly in areas like cybersecurity and artificial intelligence, aligns perfectly with Saudi Arabia's digital transformation goals. Even amidst the financial challenges facing Neom, Israeli innovation could offer crucial solutions.

Mutual Benefits: A Partnership of Advantage

Formalizing Saudi-Israeli relations could unlock a flood of Western and Israeli investment, particularly in technology, cybersecurity, and renewable energy, further diversifying the Saudi economy. Israeli tourists could become a key market, boosting tourism's contribution to GDP. Moreover, US security guarantees and incentives, often accompanying such deals, could strengthen Saudi Arabia's regional standing.

The Palestinian Question: A Necessary Consideration

Historically, Saudi Arabia has linked normalization with the establishment of a Palestinian state. While the specifics remain fluid, initiatives like the Global Alliance for the Implementation of a Palestinian State, co-chaired by Saudi and Norwegian foreign ministers, suggest progress on this front. This ongoing dialogue could pave the way for an Abraham Accords deal.

Accelerating Vision 2030: A Future of Shared Prosperity

The potential synergy between Saudi Vision 2030 and a normalized relationship with Israel is undeniable. From attracting investment and fostering technological growth to expanding tourism and enhancing regional stability, the benefits are vast. The speed of these gains will depend on various factors, but the possibility of a mutually beneficial partnership is clear. Bringing Saudi Arabia into the Abraham Accords could be a game-changer for both nations, ushering in an era of shared prosperity and innovation.