What does 2024 have in store for Saudi Arabia and the Middle East?

The 966

The 966 hosts kick off the new year after a refreshing holiday break following a successful year for the podcast in which the growth of the audience more than doubled across all platforms, and in some cases, grew significantly more than that! The team thanks all of its listeners and viewers for tuning in each week.

First, the hosts discuss Richard's One Big Thing, the Dakar Rally, which is set to take place again this year across Saudi Arabia. The race has moved to the Kingdom and began January 5th, running until January 19th, and will pass Riyadh on January 13-14. Lucien will attend the festivities and race there in person. Richard gave a run-down of the race's challenges, vehicle classifications, and importance of Saudi Arabia as a host. According to the Dakar Rally's official site, the race's origins began in 1977, when Thierry Sabine got lost on his motorbike in the Libyan desert during the Abidjan-Nice Rally. Saved from the sands in extremis, he returned to France still in thrall to this landscape and promising himself he would share his fascination with as many people as possible. He proceeded to come up with a route starting in Europe, continuing to Algiers and crossing Agadez before eventually finishing at Dakar. The founder coined a motto for his inspiration: "A challenge for those who go. A dream for those who stay behind."

Next, the hosts discuss Lucien's One Big Thing, the PGA-LIV merger and the future of golf which hangs in the balance as a deadline for an agreement announced in 2023 between PIF and PGA passed with no concrete deal, other than to keep discussions going. The delay creates uncertainty for both pros and fans as the PGA season kicks off in Hawaii. Just weeks after top golfer John Rahm joined the LIV golf tour, 4-time champion Rory McIlroy walked back criticism of LIV players. "I think at this point, I was maybe a little judgmental of the guys who went to LIV golf at the start, and I think it was a bit of a mistake on my part because I now realise that not everyone is in my position or in Tiger Wood's position," the former world number one told the Stick to Football podcast. "We all turn professional to making a living playing the sports that we do, and I think that's what I realised over the last two years. I can't judge people for making that decision."

Lucien discusses the latest with the merger and notes a reason why many Saudis don't care as much about it compared to the coverage it receives.

The hosts conclude as always with Yallah! 6 top storylines from Saudi Arabia this week...

-U.S. Secretary of State Antony J. Blinken will travel to the Middle East region this week to “discuss urgent mechanisms to stem violence, calm rhetoric, and reduce regional tensions,” according to a press release from the State Department.

-A recent study by Gallup International, in collaboration with the Saudi Center for Opinion Polls, has revealed the high level of optimism among Saudi citizens as they look forward to the year 2024.

-Saudi state TV said on Tuesday that the Kingdom had officially begun its membership of the BRICS bloc. Saudi Arabia’s foreign minister had said in August that the Kingdom would study the details before the proposed January 1 joining date and take “the appropriate decision.” Prince Faisal bin Frahan had said BRICS was “a beneficial and important channel” to strengthen economic cooperation.

-Saudi capital Riyadh has emerged as a new regional hub for over 200 international companies, aligning with an upcoming Saudi government policy. Effective January 1, 2024, the policy requires international firms to establish their regional headquarters in the Kingdom to be eligible for government contracts.

-Saudi Arabia’s sovereign wealth fund spent more than any other last year after splashing out $31.5bn (£24.7bn) on investments ranging from a stake in Heathrow to ownership of a US gaming company. The Kingdom’s Public Investment Fund (PIF) has topped an annual ranking of sovereign investment fund spending, compiled by consultancy Global SWF, for the first time.

Investment by PIF accounted for just over a quarter of the $123.8bn (£97.2bn) spent in total

-The ongoing ‘Riyadh Season’, featuring a series of entertainment, fashion, technology and gaming events, attracted a whopping 12 million visitors in the last 60 days, the organizers said. The popular event, which opened in October 2023, targeted 12 million visitor participation during the entire event period, but achieved the target in the middle of the season.