Global Journal of Management and Business Research, G: Interdisciplinary, Volume 23 Issue 1

IV. C hallenges Saudi Arabia must overcome obstacles to attain sustainable growth despite the advancements gained. The need to have a robust ecosystem for innovation and entrepreneurship is one of the significant problems. Even though efforts have been made to aidstart-ups and small enterprises, more has to be done to simplify rules, expand finance options,and promote an entrepreneurial culture (Mustun, 2022). Ensuring social inclusion and overcoming socioeconomic inequities are additional challenges. While Vision 2030 seeks to increase employment possibilities and raise living standards for all Saudi nationals, there is a need for focused programs to assist underserved groups and deal with income inequality. This initiative involves expanding access to affordable housing, healthcare, and education. The Kingdom must also keep up its efforts to address environmental problems. Although renewableenergy has advanced, Saudi Arabia remains a significant oil producer and consumer. To reduce carbon emissions and their adverse environmental effects, it is essential to establish sustainablepractices across all industries and speed up the switch to renewable energy sources. Additionally, there is still some skepticism about the Islamic laws governing this Kingdom (Abuhjeeleh, 2019), which pose a danger to investors and economic segments such as tourism. Therefore, addressing these issues will significantly benefit the Kingdom and its progress in economic transformation. V. C onclusion Economic transformation is one of the predominant themes in KSA after the implementation of Vision 2030, presented by analyzing its economy pre- and post- implementation. This analysis highlights the Kingdom's commitment to sustainable development and the issues it must address to achieve these outcomes. Before the implementation of this visionary and sustainability-oriented plan, this region's economy relied on the oil segment of its economy, which led to the persistent economic issues it was facing. These issues include high government expenditure and overreliance on public employment and income. Additionally, the Kingdom's tourism sector lacked diversity and was centered on religious tourism. However, after the implementation of this plan in 2016, other non-oil-related economic segments, such as tourism, entertainment, and energy production, flourished. Additionally, the privatization of business, development of human capital, and increased investments became the primary focus of policymakers and initiatives. These shifts have led to tremendous economic transformation in the Kingdom. Despite the progress made regarding economic change, this Kingdom must address some of its challenges. R eferences R éférences R eferencias 1. Abuhjeeleh, M. (2019). Rethinking tourism in Saudi Arabia: Royal Vision 2030 perspective. African Journal of Hospitality, Tourism, and Leisure , 8 (5), 1- 16. https: //www.resea rchgate.net/publication/34205 3451_Rethinking_Tourism_in_ Saudi_Arabia_Royal_ Vision_2030_Perspective. 2. Chaaben, N., Elleuch, Z., Hamdi, B., & Kahouli, B. (2022). Green economy performance and sustainable development achievement: empirical evidence from Saudi Arabia. Environment, Development and Sustainability, 1-16. https://doi. org/10.1007/s10668-022-02722-8. 3. Ghanem, A. M., & Alamri, Y. A. (2023). The impact of the Green Middle East initiative on sustainable development in the Kingdom of Saudi Arabia. Journal of the Saudi Society of Agricultural Sciences, 22 (1), 35-46. https://doi.org/10.1016/j. jssas.2022.06.001. 4. Ismail, M., Baig, A., & Batool, Y. (2022). The Kingdom of Saudi Arabia: A case study of Muhammad bin Selman’s (MBS) Vision 2030. Pakistan Journal of International Affairs, 5 (2). https://doi.org/10.52337/pjia.v5i2.511. 5. Moshashai, D., Leber, A. M., & Savage, J. D. (2020). Saudi Arabia plans for its economic future: Vision 2030, the National Transformation Plan, and Saudi fiscal reform. British Journal of Middle Eastern Studies , 47 (3), 381–401. https://doi.org/10.1080/13 530194.2018.1500269. 6. Mustun, Z. K. (2022). Sustainable development, climate change vulnerability, governance, and oil rent: The case of Saudi Arabia. Journal of Emerging Economies and Islamic Research, 1 (3), 35-62. https://doi.org/10.24191/jeeir.v10i3.19094. 7. Topal, A. (2019, September). Economic reforms and women's empowerment in SaudiArabia. In Women's Studies International Forum (Vol. 76, p. 102253). Pergamon. https://doi.org/10.1016/j.wsif.2019.1022 53. Economic Transformation in Achieving Sustainable Development before and after the Kingdom's Vision 2030 (A Case Review for Saudi Arabia) 61 Global Journal of Management and Business Research Volume XXIII Issue I Version I Year 2023 ( )G © 2023 Global Journals