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Riyadh is boom town as Saudis enjoy oil bonanza



By Andrew Hammond
16 November 2007 @ 08:17 am ET

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The education system continues to produce citizens well-versed in religious tradition but lacking good English, incapable of competing in today's globalize job market. Major firms like Saudi Aramco reeducate graduate hires abroad.

Disparities in wealth distribution mean poverty still exists in a country where the Saudi royals, who monopolize political power, include some of the richest men in the world.

Ordinary Saudis suffer rising inflation in the knowledge that soaring oil prices are making the rich richer. A 2006 bourse crash wiped out the savings of hundreds of thousands.

Analysts say these deep social, economic and political problems will continue to contribute to Islamic militancy.

"In Riyadh you have all these projects going on, but around the kingdom it's not at the same pace," said blogger Omran. "We heard promises about balanced development but we're not seeing anything being done."

(Reporting by Andrew Hammond, editing by Anthony Barker)

Copyright 2009 Thomson Reuters. All rights reserved.

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