TR: ‘Economic City’ is a term being used by Saudi Arabia’s national planners, likely originating from work produced by McKinsey & Company. Economic Cities are Saudi Arabia’s next approach to city-building following its Industrial Cities of the 1970s. Industrial Cities were a way of building up a national economy – by making sure that as much money was being extracted from the country’s oil drilling as possible. Economic Cities are also about producing economic growth, but today it’s through the service industry and the knowledge economy. And there is a belief that global corporations, invested in Saudi resources and people, will fund it.
Todd Reisz & Rory Hyde | Future Practice: The Management Thinkers