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

Alturif, Ghada; Saleh, Wafaa; Rezk, Mohamed Ramadan A.; Hassan, Mohammed Mahgoub; Piccinetti, Leonardo; El-Bary, Alaa A.

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.

Citation

Alturif, G., Saleh, W., Rezk, M. R. A., Hassan, M. M., Piccinetti, L., & El-Bary, A. A. (2024). Innovative pathways to a circular economy in Saudi Arabia and its spillover effects on the Arab Region. Entrepreneurship and Sustainability Issues, 12(2), 314-332. https://doi.org/10.9770/r4742847527

• Journal Article Type: Article
• Acceptance Date: Nov 11, 2024
• Online Publication Date: Dec 30, 2024
• Publication Date: 2024
• Deposit Date: Feb 18, 2025
• Publicly Available Date: Feb 18, 2025
• Journal: Entrepreneurship and Sustainability Issues
• Electronic ISSN: 2345-0282
• Publisher: Entrepreneurship and Sustainability Center
• Peer Reviewed: Peer Reviewed
• Volume: 12
• Issue: 2
• Pages: 314-332
• DOI: https://doi.org/10.9770/r4742847527
• Public URL: http://researchrepository.napier.ac.uk/Output/4122383