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Saudi Arabia Research Paper

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Developing countries are faced with many different difficulties when trying to become self-sustainable. One factor that can push success in your favor is have a supply of natural, obtainable resources. Countries with larger amounts of natural resources are more successful economically and face fewer difficulties when developing than those who are not.

A specific example of this is Saudi Arabia. Saudi Arabia accounts for having 20% of the entire world's oil reserve, the fifth largest percentage of natural gas reserves. Like we spoke about in class back on February 21st, self-reliance is very important for economic development. With have such large oil reserves, self-reliance has become a feasible task for Saudi Arabia. This gave Saudi Arabia an export total of over $230 billion dollars in 2017. Compared to a country like Costa Rica, who has little natural resources and relies on services and tourism to make its money, had an export total of just under $10 billion dollars. Which is just over 4% of what Saudi Arabia has.

Having a high export total means you are generating your own revenue for your country and not reliant on debt to run your country. When you are unable to have the finances to run your country …show more content…

This creates a lot of jobs for workers in Saudi Arabia. They have a reliable income with guarantee work and consistent earnings that can be spent and put back into the economy. A vast majority of underdeveloped countries have the issue of people not finding constant work. Like the movie we watch in class called Living on One Dollar, where the four friends lived in rural Guatemala on a sporadic income and never knew how much money they would be earning in one day. They only averaged making one dollar a day, they struggled for food, illness, and getting loans to pay back money they had previously borrowed from the townsperson with an actual

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