Innovative pathways to a circular economy in Saudi Arabia and its spillover effects on the Arab Region

Ghada Alturif (), Wafaa Saleh (), Mohamed Ramadan A. Rezk (), Mohammed Mahgoub Hassan (), Leonardo Piccinetti (), Alaa A. El-Bary () and Alaa A. El-Bary ()
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Ghada Alturif: Princess Nourah bint Abdulrahman University, Saudi Arabia
Wafaa Saleh: Edinburgh Napier University, United Kingdom
Mohamed Ramadan A. Rezk: Academy of Scientific Research & Technology, Egypt
Mohammed Mahgoub Hassan: National Centre for Research, Sudan
Leonardo Piccinetti: Sustainable Innovation Technologies Services Ltd., Ireland
Alaa A. El-Bary: Arab Academy for Science Technology & Maritime Transport, Egypt
Alaa A. El-Bary: Academy of Scientific Research & Technology, Egypt

Entrepreneurship and Sustainability Issues, 2024, vol. 12, issue 2, 314-332

Abstract: This paper examines the transition towards a Circular Economy (CE) in Saudi Arabia and its potential spillover effects on the Arab region. The concept of a Circular Economy is based on stimulating production that reduces waste and pollution, keeping revenues and consumption expenditures within a closed circle. The paper will follow the numerous pathways of innovation that Saudi Arabia is taking to develop sustainability in the light of technological advancements, policy innovations, and new business models. SWOT analysis of the identification of strengths, weaknesses, opportunities, and threats in implementing CE practices in the Kingdom; the advanced waste management, recycling initiatives, water conservation efforts, and closing with the importance of research and development. The paper highlights how Saudi Vision 2030 underlines those initiatives directed toward economic diversification, environmental sustainability, and reducing the Kingdom's reliance on oil revenues. This paper also attempts to identify how the CE efforts of Saudi Arabia are likely to impact regional collaboration and policy harmonisation, promoting economic and environmental benefits related to the Arab region. The findings underscore that the strategic investments and policy commitments will render the Kingdom a sustainable and resilient economy. The paper also discusses how public-private partnerships and international collaborations may drive the CE agenda. In a nutshell, the Kingdom of Saudi Arabia is best positioned to lead the Arab region in the practice of CE, thereby contributing to regional economic integration, promoting environmental sustainability in the Arab region, and tying the region to global sustainability efforts.

Keywords: circular economy; Saudi Arabia Vision 2030; sustainability; spillover (search for similar items in EconPapers)
JEL-codes: Q10 Q32 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:12:y:2024:i:2:p:314-332

DOI: 10.9770/r4742847527

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