The rising price of oil is fueling an economic development boom in Riyadh, Saudi Arabia.
"Little more than a dusty desert outpost three decades ago, Riyadh is a boom town where even a stock market crash last year and a spike in inflation over recent months have failed to halt the orgy of conspicuous consumption."
"Ever since oil moved from a base of $10 a barrel in the late 1990s to nearly $100 this month, the desert monarchy has seen a turnaround in its economic fortunes and a return to some of the profligate spending that characterised the 1970s and 80s."
"Every day newspapers carry announcements of new projects costing billions of riyals, a currency whose strength is masked by its tight peg to the U.S. dollar."
"The Riyadh Development Authority has been set up to oversee plans to develop a financial centre, technology park and underground metro system."
FULL STORY: Riyadh is boom town as Saudis enjoy oil bonanza
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
How to Make US Trains Faster
Changes to boarding platforms and a switch to electric trains could improve U.S. passenger rail service without the added cost of high-speed rail.
Columbia’s Revitalized ‘Loop’ Is a Hub for Local Entrepreneurs
A focus on small businesses is helping a commercial corridor in Columbia, Missouri thrive.
Invasive Insect Threatens Minnesota’s Ash Forests
The Emerald Ash Borer is a rapidly spreading invasive pest threatening Minnesota’s ash trees, and homeowners are encouraged to plant diverse replacement species, avoid moving ash firewood, and monitor for signs of infestation.
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This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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