Saudi Arabia faces threats from Houthi militants; economic concerns shift from oil to non-oil industries
2026-10-27 00:18:49
According to CoinMeta, in the early stages of the Iran-War, Saudi Arabia's oil industry successfully withstood various concerns. However, now that Houthi militants have launched deadly attacks on Saudi Arabia, there are increasing signs of disruptions to economic activities, and market concerns have shifted to other sectors of the country's economy. Over the past few weeks, Houthi attacks have resulted in dozens of deaths, restricted air travel in Riyadh, led to the postponement of some landmark events, and effectively forced the financial district of Riyadh to come to a standstill. The Saudi stock market has tumbled significantly and has now become one of the worst-performing markets among global emerging markets this month. Economists say it is still too early to quantify the impact of these attacks. But most believe that even if rising global oil prices bring considerable revenue from energy exports, it will be difficult to offset the impact of this broader war on the non-oil economy. The non-oil economy is at the core of Crown Prince Mohammed bin Salman's economic transformation plan, which aims to transform Saudi Arabia's economy, valued at about $1.4 trillion, into a hub encompassing multiple sectors such as tourism and foreign direct investment.
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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