For decades, they wanted to diversify away from oil and build tech industries. The problem is they don’t have skilled labor and would have to import “slaves” as they do with everything. They have some of the lowest skilled and laziest labor in the world. If/when dependence on oil ends, these countries will go back to being poor.
Edit: contrast ME with Mexico who is running out of oil. Yet, they are able to build because they happen to have some of the hardest working labor in the world (though not notably skilled). I rather bet on Mexico revival over ME 100/100.
Edit: contrast ME with Mexico who is running out of oil. Yet, they are able to build because they happen to have some of the hardest working labor in the world (though not notably skilled). I rather bet on Mexico revival over ME 100/100.