In this episode of Life Show on Alrai TV, the hosts welcomed Mr. Abdulwahab Al-Rasheed, then Vice Chairman of the Kuwait Economic Society, and Mr. Abdullah Al-Salloum, economic affairs researcher, for an in-depth discussion on the future of Gulf economies beyond 2030 and the readiness of Kuwait and other GCC countries to move from oil-dependent rentier economies toward more diversified and sustainable economic models.
The interview addressed a central question: How delayed are Kuwait and the Gulf states in launching and implementing major development projects and long-term economic visions? Abdulwahab Al-Rasheed opened the discussion by stressing that the Gulf states were significantly late in developing future-oriented economic visions. He argued that planning for sustainability should have started from the early days of oil discovery, not after decades of dependence on oil revenues. He explained that political distractions, short-term conflicts, and immediate concerns diverted attention away from the deeper strategic goal of building long-term economic durability.
Abdullah Al-Salloum then provided a historical and economic perspective on Gulf societies before oil. He explained that Kuwait and the wider Gulf region once had a real productive capacity based on pearl diving, fishing, regional trade, and commercial movement between different areas. According to Al-Salloum, the arrival of oil changed the economic and social structure of the region. Governments used oil revenues to spend on society, but they did not build a human productive base capable of creating alternative sources of income. He emphasized that the issue was not only delayed planning, but also the deep-rooted growth of a rentier culture, where citizens gradually became focused on securing government jobs and fixed salaries instead of becoming part of a sustainable productive economy.
The episode also discussed the impact of global economic crises, including the 2008 financial crisis and later oil price shocks, on the Gulf’s awareness of the risks of relying on a single source of income. Al-Salloum explained that different types of crises affect different economic models in different ways. For example, the 2008 credit crisis had a stronger effect on economies connected to credit and diversified sectors, such as Dubai, while oil price declines had a stronger effect on rentier economies such as Kuwait, Saudi Arabia, and Abu Dhabi. He noted that the sharp drop in oil prices exposed the weakness of the rentier model, especially when prices fell below the fiscal breakeven levels needed to balance public budgets.
The discussion also covered Kuwait’s economic vision and the gap between studies, recommendations, and actual implementation. Al-Salloum argued that the problem is not the absence of studies or experts, but the weakness of execution and the lack of a higher central authority responsible for leading economic transformation. He suggested the need for a Supreme Economic Council that would define national visions, objectives, and strategies, while ministries would act as implementation tools rather than isolated decision-making bodies.
Another important part of the interview focused on the role of the Kuwait Economic Society. Abdulwahab Al-Rasheed explained that the Society had made voluntary efforts, including organizing a conference on diversifying Kuwait’s economic base under the patronage of His Highness the Amir. The conference produced several recommendations on how Kuwait could diversify its economy. However, Al-Rasheed emphasized that the larger responsibility remains with decision-makers and that successful reform requires serious public support for economic and development visions.
The interview also explored the issue of public awareness and economic reform. Abdullah Al-Salloum explained that the lack of public awareness is a major obstacle to implementing reforms such as value-added tax. He argued that no economic reform comes without a cost, and that both society and government must bear part of that cost in order to achieve long-term gains. He compared Kuwait with Saudi Arabia, noting that Saudi Arabia benefited from centralized decision-making in implementing some reforms under Vision 2030, while Kuwait continues to suffer from fragmented decision-making and weak central direction in economic and development policy.
The episode then moved to the subject of major projects, infrastructure, and delays in implementation, after showing public comments from the Kuwaiti street about delayed projects, traffic congestion, poor road maintenance, potholes, and delayed employment opportunities for graduates. These public concerns were used as a starting point for a broader discussion about the efficiency of government spending, the quality of public services, and the ability of the state to convert large spending into real outcomes that citizens can feel in their daily lives.
A key part of the discussion focused on economic studies and consultancy reports. Abdulwahab Al-Rasheed stressed that Kuwait has spent large sums on studies and that the issue is no longer a lack of research, but a lack of implementation. He called for giving national talents a greater opportunity to shape visions and policies, instead of relying heavily on foreign consultants who may not have a strong connection to the country, its society, or its long-term future.
Abdullah Al-Salloum, meanwhile, focused on the structural weakness of the economic system. He argued that continued dependence on oil means that supporting talent alone will have limited impact unless the country transforms into a genuinely productive economy. He explained that many Kuwaitis who study abroad return with strong skills and expectations, only to face a discouraging work environment. This often pushes them toward simply maintaining a job and salary rather than innovating or producing. He also noted that the political and electoral system makes difficult economic reform more complicated, because a parliament member who supports painful short-term measures for the citizen’s long-term benefit may lose voter support.
The interview also addressed the issue of taxation in Kuwait. Both guests agreed that discussing taxes is difficult when public services remain weak and trust in public spending is limited. Abdulwahab Al-Rasheed stated that if citizens are expected to pay taxes, they have the right to see better services in return, along with clear representation, accountability, and transparency in how public money is managed.
Toward the end of the episode, the hosts discussed the concept of Gulfization or localization of projects. Abdullah Al-Salloum explained that forcing foreign investors to meet local or Gulf employment quotas may become an obstacle if productivity and efficiency are not strong enough. He argued that an economy seeking to compete globally must focus on competence and productivity rather than symbolic employment. On the other hand, Abdulwahab Al-Rasheed expressed strong support for small businesses and youth-led initiatives, noting that major economies such as the United States and Europe have been shaped by companies that began as youth-driven projects, including Twitter, Snapchat, and Uber, before becoming major companies that created thousands of jobs.
This interview offers a rich discussion on the future of Kuwait’s economy, Gulf economic visions beyond 2030, economic diversification, rentier economies, oil dependency, education reform, small businesses, value-added tax, the role of the Kuwait Economic Society, centralized decision-making, infrastructure challenges, national talent, and the future of development in the GCC. It highlights the gap between public spending and real results, while raising essential questions about how Kuwait and the Gulf can build sustainable economies based on productivity, competence, public awareness, accountability, and long-term strategic planning.