Saudi Arabia's ambitious $500 billion Neom project is facing significant problems, including increased prices, delays, and a recent leadership shakeup. The project's growing costs now pose a threat to Saudi Arabia's larger Vision 2030 objectives, which were once envisioned as a car-free, high-tech city for one million inhabitants.

Saudi Arabia is experiencing financial difficulty due to the multi-trillion-dollar Vision 2030 plan, despite its reputation as an oil-rich country. According to former Neom executives, the country's $1 trillion Public Investment Fund is unable to cover the potential trillion-dollar costs. By funding futuristic megaprojects like Neom, Crown Prince Mohammed bin Salman's Vision 2030 effort to diversify the economy seeks to lessen reliance on oil.

However, the viability of this economic change is being put to the test by swollen budgets and leadership disputes. Without adequate funding or streamlined management, Saudi Arabia's path to modernization faces critical obstacles.