Spending to Grow in Saudi Arabia
SoftBank Chief Executive Officer Masayoshi Son speaks during a SoftBank World presentation in Tokyo, July 20, 2017. (AP Photo/Shizuo Kambayashi)

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Saudi Arabia Hikes its VAT, but for How Long?

Saudi Arabia has adopted strict austerity measures to combat the dual effect of falling oil prices and the coronavirus crisis. Unlike previous measures that were lifted when oil prices recovered, a July 1 VAT increase (from 5% to 15%) is more likely to stay in place, which could present challenges to low-income families, businesses, and plans to revive domestic tourism.

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Through its careful examination of the forces shaping the evolution of Gulf societies and the new generation of emerging leaders, AGSIW facilitates a richer understanding of the role the countries in this key geostrategic region can be expected to play in the 21st century.

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